Too many people believe estate planning is only for the wealthy - in fact, a recent survey shows only four out of 10 American adults have a will or trust in place. However, everyone can benefit from planning for how their property and other assets are taken care of after they die.
Three focuses of high-net-worth estate planning
You’ve worked extremely hard, may have caught some lucky breaks and cashed in on some opportunistic situations to be financially secure. The last thing you want, is to have your estate suffer through high taxes and heirs that don’t know how to manage their inheritance.
Is staying together for the kids worth it?
Divorce is a significant life decision. It’s often difficult to ask your spouse for divorce, especially if you have children. Many people say that they’ll divorce once the kids grow up or move off to college. This may not always be the best decision for you or your children.
Brainstorming for your parenting plan
Among the many benefits of having a plan for anything is reducing the likelihood for surprises. The same is true when it comes to establishing a parenting plan because it establishes clear expectations for you, your co-parent, and children.
