People who have had a serious case of COVID-19 are 66% more likely to engage in estate planning, and 32% of adults under 35 said they wrote a will because of the pandemic.
A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust’s assets are split up after the surviving spouse dies.
Do you know what will happen to your property, belongings and debt when you die? What about your children? If you haven’t created an estate plan, now’s the time to start. Here’s how.
The thought of preparing your own will might feel a little daunting, bringing an onslaught of emotions like fear or sadness.
Pandemics, inflation, rising interest rates, war in the Ukraine—uncertain times indeed! And yet, in the world of estate planning, almost every change in the zeitgeist offers its own suite of planning opportunities and applicable techniques.
Only you know your capacity and willingness to serve, or the degree of need expressed by the person asking you. However, it should help to know first that if you do decide to accept, there can be help out there and second there are standard procedures and practices you can follow.
What will happen to your assets when you can no longer manage them?
Estate planning is always a difficult subject to deal with, because who wants to arrange things for when they die?
Amid the grief of losing a loved one, families are dealt additional burdens when the person did not leave behind a will or estate plan.
Questions around death planning can feel overwhelming: Cremation or burial or natural organic reduction? What will your family want, and what will it cost? Do you really need to think about all this if you’re young and healthy right now—or can you put off these decisions until you’re older or dealing with a life-threatening illness?
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