Kent area residents should understand that estate planning is not just for the older generation. Although many people assume that those who have a great amount of assets or are approaching the end of their lives should have an estate plan, estate planning is actually for everyone, millennials included.
Many Kent area residents support their favorite charities. Charitable giving is an important concern for many people, and the ability to incorporate this into an estate plan is something that many people are interested in. Bequests in a will are a popular form of supporting a charity after death.
Although many Kent area residents understand the importance of having an estate plan, nearly 60% of Americans have not taken the time to create one. Many people think they don't have enough assets to worry about creating a plan, but there are many reasons why having an estate plan is important.
Having a will means that upon a person's death, their estate will usually be handled according to their wishes. When a person dies without a will, their estate enters probate, where there are bound to be family members arguing over it. Many Kent area residents understand the importance of a will, but there is still a large percentage of Americans who haven't taken the time to create one.
Many Kent area residents understand the importance of estate planning. Estate planning is a way to control what happens after a person dies and it ensures assets are passed on in the way in which a person wants. Estate planning can also help with important power of attorney designations and health care instructions. With all the advantages an estate plan offers, baby boomers should ensure theirs is in place.
Estate planning is not usually the most exciting thing for a Kent area family to work on. No one wants to think about what would happen to their assets, their children, etc. after they pass away. But, when a family does not take the time to create an estate plan, problems can arise upon their death. Having a will is one of the most important things a person can do for their family.
Time is quickly approaching for young adults to head off to college for the year. This is always an exciting time for families as they put together school supplies. But, along with packing the car, a few estate planning measures should also be considered.
Many Kent area residents have taken the time to create an estate plan. An estate plan is critical to help a family specify where their assets should go, designate guardians and powers of attorney. For those who haven't created an estate plan yet, there are four basic items that should usually be included in every basic estate plan.
Many Kent residents have taken the time to create their estate plan. They understand how important it is to plan for not only the transfer of their assets, but their health care, guardianships and property should they become incapacitated. But, many people are scared of estate planning and what it may mean.