Kent residents have heard of wills as part of a basic estate plan. These documents give direction as to what should be done with a person's assets the time of the person's death. Although these assets are important parts of a family's legacy for many people there is more to a legacy than money. Estate planning is important for all families to direct asset distribution and to ensure that their values and beliefs are passed to their heirs.
Most Kent area residents know how important education is to a person's success in life. When a person is blessed with the means to contribute to a family member's higher education it can mean a world of difference to the recipient. Many grandparents are interested in ways of helping their heirs attend college.
When many people think about an estate plan they often think of the taxes involved. The federal estate tax is often first on their list of things they think they or their heirs are going to have to pay for. There are a few things about the federal estate tax that may be interesting for Kent area residents.
No one wants to think of their inevitable death. But, estate planning can go a long way in making a family feel secure in their financial decisions. One important document that can be extremely beneficial to an estate plan is a financial inventory.
When Robin Williams took his own life this past August everyone was in shock. The unexpected death of a beloved movie star and comedian affected many people. But since he died there has been a battle among his heirs over his estate. There are a few things that non-celebrities can learn from this conflict in order to make sure their estate plan doesn't have the same pitfalls.
Kent-area residents know how important it is to support their favorite charities and to give to others. For many people it is important to continue this giving into their estate administration. Many people wonder how they can incorporate important faith and values into an estate plan?
The number of women who own their own business has dramatically increased in recent years. More and more women are graduating from business school, law school and other professional schools, landing them with the opportunity to own and manage their own business. Businesswomen in the Kent area should also make sure that their estate planning tools are up-to-date.
Although many people may think that the majority of Americans are married, the truth is that for women over the age of 65, more than 53 percent were not married and 26 percent of men were single. These statistics show that there are millions of single Americans who may need to think about what will happen to their assets when they die. Estate administration for singles is important in making sure that the assets are passed down to their intended heirs.
For many people, helping others is an important value in their lives. Many people in the Kent area give generously and hope that their legacy will include the generous contributions they have made to society. Giving gifts can also have tax advantages for givers and their heirs.
Baby boomers will be leaving over $30 trillion to their offspring over the next 30 to 40 years. That's an incredible amount of money that will be passed down to the next generation. How can people in Washington ensure that they are passing down this money to their heirs properly? There are certain things to keep in mind when it comes to estate planning.