Estate Planning & Elder Law Blog
It would be wonderful to give you an absolute yes or no but like so many things, it is important to analyze how your specific circumstances factor into the answer.
When it comes to transferring possessions upon your death, you can either make it easy on your loved ones through proper estate planning or you can leave it up to the court system. Prior planning is the more efficient and effective option. There are a variety of planning methods available depending on your unique situation.
For example, Revocable Living Trusts are commonly used to transfer assets after death, independent of the legal system in many states.
As spring winds down and summer sets in, many parents and students look forward to graduation day. After the celebrations, parents get ready to send their children, many of whom have never been away from home, off to college.
As children grow into adults, they often rely upon their parents for guidance when facing tough life questions. Sage advice from mom about career paths or from dad regarding relationships, garnered from their own life experiences, helps soften the pinball-like transition into adult life.
If you think estate planning is just for the wealthy, think again. Everyone has an estate worth planning for; some are just more complex than others. Facing one’s own mortality can be an uncomfortable subject, but ignoring the inevitable can cause unnecessary pain and conflict for your loved ones.
