Estate Planning For Baby Boomers
December 6, 2013
Why Does the Baby Boomer Generation Need to Think About Estate Planning?
Below is a fantastic article on some basic strategies to estate planning
for baby boomers. The suggestion I like best is the author’s last point: start by making sure that your parents have an appropriate plan in place. In the end, estate planning
is intended to protect your family, from both the cost and expense of probate
and from unexpected tragedy by using tools such as powers of attorney and advanced health care directives. Starting the estate planning review process with your parents estate planning instruments is a great way to protect them and yourself. Many estate planners will offer a discount for performing multiple plans at once, so by taking care of a plan for your parents, at the same time you are planning for yourself, you may experience not only more integrated estate plans, but appreciable cost savings.