It’s that time of year again. Yes, it is New Year’s resolution time. Was making a will one of your unfulfilled resolutions from past years? Is it on your “to-do” list for 2018?
The numbers vary somewhat from survey to survey, but each new study that is released reveals that large numbers of Americans do not have a will. Not having a will is shorthand for not having any estate planning in place.
Many accounts, like retirement and investment accounts, allow you to designate the beneficiaries of the account upon your death. It’s a convenient way to distribute these accounts, and typically you make the selection when you open the account.
To begin planning your estate is to think through the intricacies of your life, to think about your values and your family. But there is nitty-gritty you might be overlooking: the financial, the legal, and the shared understandings. Make time to consider what you might be overlooking before planning in earnest.
The largest obstacle to effective estate planning is procrastination. Sitting down to prepare a Last Will and Testament is not at the top of anyone’s “this is a fun thing to do” list. Yet death, like taxes is a certainty.
Holidays give us the opportunity to spend more time with family. When we spend more time with our aging parents at these holiday gatherings, we often notice the early indications that a parent is slipping. You may notice a parent forgetting things or no longer participating in things he or she always enjoyed.
“Trick or treat” rings out every Halloween as children go door to door hoping for their favorite candy. My kids love sorting the candy at the end of the night and finding surprises in their candy haul.
The numbers vary somewhat from survey to survey, but each new study that is released reveals that large numbers of Americans do not have a will.
All parent wants to make sure their children are taken care of in the event that they become disabled or die before the children reach adulthood.
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