While we all hope to age gracefully, we need to prepare for the potential risks of aging as it relates to investing and financial wellbeing.
The first step in getting your affairs in order is to gather up all your important personal, financial and legal information, so you can arrange it in a format that will benefit you now and your loved ones later.
So, what happens with your estate plans if you are not in a traditional nuclear family? There is quite a lot that can fall under the umbrella of a non-traditional family, and the recommendations will vary depending on your specific circumstances.
Data from sources like the U.S. Census Bureau shows in no uncertain terms that the U.S. population has grown older over the prior two decades.
While legally you may not need all-new estate planning documents if you move to a different state, you should have your documents reviewed by a local attorney in your new home.
A critical item is often missing from back-to-school college checklists — and it could be far more valuable than anything else your student takes to school this fall: signed legal documents.
This type of will can ensure that your assets go where you want them to. However, there are many misconceptions about them.
This is also the time to consider what plans are in place to ensure you can maintain your own independence in the coming years. This includes creating or updating your estate plan, to be sure it reflects your wishes for your future and your family’s future.
You’re single, and you don’t have an estate plan or even a will. Perhaps you think you don’t need either because you’re not wealthy and don’t have children.
As with anything in life, our individual preferences and circumstances will vary. Some may want to ‘age in place,’ while others may need to consider other housing options.