No Kids? What Happens to My Estate? – Annapolis and Towson Estate Planning
So, what happens to your estate if you don’t have a will nor any children?
So, what happens to your estate if you don’t have a will nor any children?
Every so often, it’s smart to methodically go through your estate planning documents and see if any tweaks are needed. Here’s a checklist to guide you through that mission.
The word “estate” has always been connected to “ultra-rich” families, those with a lot to leave behind after their death. However, definitions have changed, and anyone who has anything to leave behind needs to plan their estate. “Estate planning” essentially becomes your family’s guidebook, once you are no longer in the picture. Sounds important? Definitely, and here’s why.
Ever since a group of philanthropists created the Giving Pledge in 2010, taxpayers have expressed greater interest in potential estate planning strategies that would allow them to leave a significant portion of their assets to charity upon their death.
Estate planning is not just about saving taxes, it is also about managing and protecting your assets against future creditors, both for you and for your beneficiaries.
Did you receive an inheritance of cash, investments, or property? Here are four ways that can help you keep it from being swallowed up by taxes.