Do Young Adults Need Estate Planning?
December 22, 2021
Highfalutin terms like “estate planning” can put off younger adults and conjure grandiose notions of excessive wealth.
Johnson Law Firm
Highfalutin terms like “estate planning” can put off younger adults and conjure grandiose notions of excessive wealth.
Even those who have saved and invested well may not be sharing their financial information with a spouse or loved one. It’s time to do that now.
Losing your spouse is a painful, confusing time, but add to that repeated calls from an aggressive debt collector and a bad situation suddenly can get even worse.
Some inherited assets are tax-friendly, but under new rules, others come with a hefty tax bill. We help you get the most out of a legacy.
What if parents have wills and their contingent beneficiaries are their two adult children. If one of the adult children dies before the parents, who gets that contingent beneficiary’s share?
Estate planning is making decisions today for what you want to happen in the future.
Picture this…your child is in the hospital, but the on-call doctor won’t talk to you let alone allow you to weigh in on medical decisions. While hospitalized, your child’s bills are going unpaid because you can’t access their accounts—potentially wreaking havoc on their financial credit. Why? Because they’re over the age of 18.
Here’s what you need to consider, when looking to hire an elder law attorney.
If you have a parent over the age of, say, 65, thoughts about their future may have started to creep into your mind. However, because end-of-life planning can be emotional and overwhelming, it’s tempting to put these conversations off—and even more pleasing to avoid them altogether.
The new numbers mean that wealthy taxpayers can transfer more to their heirs tax free during life—or at death. A lot more.
