The holidays and spending time with family typically go hand-in-hand. With that in mind and the holidays quickly approaching, our focus for the upcoming month is about how you can take care of your family through estate planning.
As your family grows and changes, so should your estate plan. The estate planning needs of a young family with small children are different than those for families with aging parents and adult children. Each family is unique and should have a comprehensive estate plan to account for that family’s needs and wishes.
For example, as the Boomer generation ages, a “sandwich generation” has formed with adult children simultaneously caring for aging parents and their own young children. Special planning conversations can help ensure that both elderly parents and young children are provided for in case of incapacity or death.
For some families, a child or loved one with special needs may necessitate different estate planning techniques to guard access to government benefits.
Others may be concerned about the impact of a potential divorce on a child or heir, or about a child with a less-than-stellar financial track record.
We have also seen, especially in recent years, the impact of the drug addiction epidemic on some of our families and have come alongside them to assist with estate planning changes to help minimize potential financial impacts.
For each of these situations mentioned above, there may be an estate planning technique to help. We will focus these techniques and more throughout the month of November; highlighting how you can work with us to ensure your estate plan works for your family. We would love to hear your thoughts as you read these posts.
To learn more, explore our website and contact us to schedule your consultation today!