Estate planning can be a sticky business. Who wants to contemplate their death and consider who gets what? That’s probably why only around 45 percent of adults have a will.
Out with the old, in with the new.
While you may not have the sprawling kind of estate with acres of lawn, dozens of grazing horses and multiple tennis courts, you do actually have an estate. Your estate is comprised of the things you own: your home and vehicles, retirement accounts, bank and investment accounts, jewelry and family heirlooms, to list a few possible assets you may own.
In chronicling the inventory of a comparatively high-asset life for its eventual transfer to heirs via your projected estate plan, you've perhaps accounted for that coin collection that your youngest child was always fascinated with.
We're all different, yet all the same.
There is a sizable checklist of "things to do" for many estate planners that ranges widely from will/trust execution and heir/beneficiary designations to inheritances and health care-related instructions.
Aging is an important part of life, and we all have to be prepared for it. If you have parents or another loved one who are becoming frail you may be worried about their care and well-being in the near future.