Family First

Leaving A Legacy

Preparing to Leave a Legacy for Your Loved Ones
When preparing your legacy and estate planning process, your main concern is to provide your beneficiaries with the most resources possible, while also lessening the tax burden for both of you. This involves preparing your loved ones for their future.
Ages 9-13

Middle School Age

It’s never too soon to teach your kids about the value of money.
Ages 14-17

High School Age

It’s important that they understand the cost and value of going to college, and plan to make the most of it.
Ages 18-22

College Age

College is the first time they’re on their own, and they will need to learn how to budget.
Ages 23-29

Post Grad

Once they start their first job, they should learn how to make a budget and continue or start saving for retirement.
Ages 30-39

Late 20s – Late 30s

You may discuss their strategy for buying a house, saving for their own retirement, paying off the rest of their student loans, and their investment strategy.
Ages 40-55

Mid 40s – Mid 50s

This is the time to continue discussions about wealth transfer and tax minimization strategies with them, as well as how you would like to be cared for in your old age.
Leaving A Legacy

Mistakes You Could Be Making with Your Estate Plan

It’s easy to avoid making an estate plan, but lacking one won’t be easy on your loved ones and could cause tension during your later years and after your passing. Having your affairs in order can be a big help to your family, so consider creating a comprehensive estate plan. Unfortunately, there are many mistakes you can make when it comes to your estate plan. So, watch out for these key blunders!

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