As you approach old age, you may be wondering how to transfer your real estate holdings to your adult children. There are several reasons why seniors may wish to transfer their real estate: Some people decide to unburden themselves of their house and travel the world; others make the choice to downgrade to a more manageable living space. For some seniors, the physical strain of maintaining the property may no longer be an option.
Many women tend to neglect the estate-planning process. This is a shame, because estate planning is an important step in protecting your wealth and ensuring your loved ones’ wellbeing.
The problem with planning for the future is that we tend to do it in our heads, instead of getting it down on paper.
For many parents, a child’s high school graduation is a mixed blessing. One is able to see one’s child take the first steps into adulthood – and the first irrevocable steps away from the family home. The instincts to protect (and, maybe, to coddle) remain strong, even as one knows it’s best to allow children to assert their independence.