The number of unmarried couples who live together reached 18 million in 2016, a 29% jump from 14 million in 2007. Among adults age 50 and older, the increase was 75%: About four million were cohabiting in 2016, up from 2.3 million in 2007.
For many people, what comes to mind when they think about estate planning, is how much money they will be able to save in taxes as assets are passed from one generation to the next. While that is certainly an important part of any plan, there is much more to consider so that a person and his or her family are protected for the future.
Estate planning attorneys will agree, it’s better to die with a properly drafted will than to die without one. If you don’t have one, consider getting one.
With a new year upon us, it is a perfect time for people who have not begun the process to understand the benefits of getting a plan started.
Being named in someone’s will as the executor–the person to handle and settle up estate matters–sounds like a great honor.
Estate planning is a systematic process, which involves getting your personal and financial goods for the time, if you pass away or become mentally ill. It is also known as last will, and almost everyone does this planning for their family.
Parents may be surprised to learn that without some specific documents in place, they will no longer be able to obtain information or help their loved one should they be in an accident or other situation, where they can’t advocate for themselves.
This year for the holidays, why not give yourself and your loved ones a little peace of mind?
Your will is one of the most important documents you will ever sign. However, to think that over 70% of people don’t even have a will is, indeed, quite frightening.
While no one likes to think about the end of life, those who do, and those who spend just a small amount of time preparing properly, can help ensure their families continue to embrace and share all of the tremendous memories they created together.
