When you create a will or trust, your plans are clearly detailed. You want your assets to go to specific beneficiaries who may include your spouse, children or grandchildren. Usually, you don’t think that you will outlive your heirs. No one wants to outlive their heirs, but, sometimes, tragic life events happen.
When it comes to estate planning, military families have special requirements that the average family simply will never have to face. A loved one in the military holds a job that may require overseas deployments and being exposed to life-threatening combat situations, sometimes on a daily basis.
Worried about your special needs child’s financial future? You don’t have to be.
Former president Dwight D. Eisenhower once said, “Plans are nothing; planning is everything.” Financial planning can be a crucial component to alleviating stress on your loved ones upon your passing or incapacity. One of the biggest stressors when administering an estate is finances.
The Tax Cuts and Jobs Act of 2017 changes nearly every aspect of estate plans and wills. There are many new opportunities to pass on your business, property, and other assets to be sure that it stays in the family.