Grandparents often are particularly generous to grandchildren as they see their family’s legacy continuing on to a new generation. In many cases, grandparents feel they have ample resources and their children or grandchildren may be struggling financially. Consider these six issues before writing those checks.
Your estate plan is great for transitioning your financial wealth to the next generation, but your overall wealth is so much more. An Ethical Will includes your intellectual, spiritual and human assets. By helping you create an Ethical Will, you are protecting what matters – who you are and what is important to you.
Most of us spend a lot of time planning how to pay for a college education for our children, weddings, that car we always wanted and retirement. We all spend a significant amount of time planning for the long awaited vacation that will last only a few days of our lives. Some even have given thought to long term care planning. So, while planning for the BIG things and keeping our house in order, have you stopped to think about the steps to ensure that your legacy will be carried out?
Estate planning is primarily about how to pass your property on after your death to the recipients of your estate with a minimum of fuss, expense and taxes. But, it is about a lot more as well.