Having a baby is a life changing event. Not only does this new addition convert a couple into a family unit, but the little bundle of joy may also impact how the couple views the world around them. If the financial impact of raising a family has not yet become a reality, this truth will become apparent after receiving the bill from the hospital for the labor and delivery process.
Your New Year to-do list may include getting an estate plan. The process of putting together the documents that make up this plan is often overlooked or postponed. As a result, if you find yourself pushing this item lower and lower on your list, you are not alone.
The celebrated singer Prince, who at only 57 years old accidently died in April of an accidental opioid overdose at his Minnesota recording studio, was unquestionably a brilliant musician. Unfortunately, he was not as wise when it came to planning his estate, as he famously died without a will that could have directed where he wanted his sizeable assets to go upon his death.
Whether the proverbial ink has just dried on your divorce decree or you have been divorced long enough to already enter into a subsequent marriage, you should read this. After the turmoil of a divorce, one of the last things on your mind is probably the impact that it will have on your estate plan, but, you must understand what will happen if you don't review and redraft those vital documents.
They are often some of the best memories: family gathered together during the holidays or a summer vacation with children playing and adults debating. As children move away how can you keep this meeting spot in the family? For a cabin or remote property who will pay for the upkeep? What happens if no one uses it at some point?