You're still young, and you don't anticipate using a will for decades. You're not even married yet, and you're still in college. Do you actually need a will?
Important points for retirement and estate planning
The mantra of investment commercials focuses on preparing baby boomers who are close to retirement age with the wisdom and knowledge to retire with enough income to enjoy the good life. Indeed, limiting risk is just as important to retirement planning as it is to estate planning. Because of this, there are several things that soon-to-be retirees should keep in mind as you plan for the next stage of your life.
Can you pass on your values with a trust?
Obviously, a trust is a way to pass money and assets on to your heirs. However, that's just one of the things you're interested in giving your children. You're also hoping to pass on your values, molding your kids into the type of people you want them to be. Can a trust be used to do this as well?
Should you put funeral instructions in a will?
You have an idea of what you want your funeral to be like. Maybe it's just a general overall structure, or maybe you have the specifics planned out right down to who should speak and what time of the day the funeral should take place.
Why to consider a life insurance trust
When you bought your life insurance policy, it was with your children in mind. You wanted to be sure that they would have their needs met, even if you and your income were gone. You didn't want a car accident or some other sudden tragedy to leave them with nothing.
