Just as the birds and the bees talk was difficult during the teenage years, talking to your adult kids about your finances seems to bring the same angst. Having the "talk" can prove beneficial, though, in helping them prepare for your care.
It's easy to think about how you would spend a large sum of money. It's not so easy to think about the final answer, how do you want your assets to pass when tomorrow starts without you. Here are five reasons to consider a trust as part of your estate plan.
Is your estate plan a Dinosaur? As technology continues to integrate into our lives, your estate plan could be missing some essential strategies. Learn more about how to incorporate digital assets into your estate plan.
While many people think of the will as the foundation of estate planning, trusts can be the cornerstone that allows you to name who will get your assets and control how they will get those assets. Essentially, permitting what they call control from the grave.
Folks spend a lot of time preparing the money for the kids, but don't spend a lot of time preparing the kids for the money. No one would just hand the keys to the brand-new car to a 16 year old with a newly minted driver's license, but no experience. We also shouldn't hand the keys to our financial kingdom to our adult children without getting them ready.