As social trends continue to change, the typical age of a first-time mother keeps getting older. This can have a big impact on estate planning for those who have children later in life.
It seems like every generation should live a bit longer than the last, right? We invest so much time and money in technology, medicine and related fields. We understand the human body in ways people couldn't fathom not that long ago. Many medical technologies that seemed like science fiction to our grandparents are now very real.
Nobody wants to lose their financial stability after their marriage fails. Reliable financial income is crucial to overall peace of mind and personal well-being. The transition from marriage to divorce is not always easy when large financial shifts are made, especially when you have the most to lose.
Business succession planning gets complicated when you have multiple children. Who wants to be involved? Who deserves it? What is best for your company? What is best for your family? These are just a few of the questions you have to ask yourself.
Estate planning involves, among other things, determining how to leave your money to your children. When you pass away, your wealth goes to them. You simply need to figure out the best way to do it.