Young adults may hear about the topic of estate planning and quickly hurry on feeling as though it is something that is only applicable to older people. Of course it is absolutely true that senior citizens pass away more frequently than people who are in their 20s, 30s, and 40s. But then again, the children of senior citizens are going to be people who are already grown up and self-supporting. So yes, it is less likely that younger people will pass away, but the consequences of a lack …
Are Private Family Foundations Only for Billionaires?
Many people are in a position to leave behind a charitable legacy, and this can certainly be a rewarding parting act. Exactly what cause or causes you would like to support can be something that you carefully craft to reflect your own passions and interests. If you decide that you would like to engage in acts of philanthropy as you are planning your estate you will have some decisions to make with regard to vehicles of charitable giving. Perhaps the first thing that will come to mind for …
Authorize a Representative to Make Final Arrangements
Sometimes you can overlook matters that are important when you are planning your estate if you do not discuss things in detail with an estate planning attorney. Final arrangements can fit into this category, and at times some surprisingly negative circumstances can result from a lack of planning. You may recall that the legendary race car driver and automotive designer Carroll Shelby passed away last year. He was married to his seventh wife Cleo at the time, and he had three children before …
Act Now With the Future in Mind
When you are going through your prime earning years you have a window of opportunity that you can either take advantage of or ignore. You must assume personal responsibility for your own future, and if you do not act with that future in mind along the way you may regret it later on. Retirement planning is important, and you cannot correct errors of omission as a senior citizen in most cases because you simply don't have the time to recover. On the other hand, if you understand the facts, …
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