Over the course of the next decade, more and more baby boomers will be leaving the workforce to spend their retirement with their significant others. However, before these boomer couples head to the golf course, beach or airport to start spending their hard-earned money, they may want to set aside some time to review their estate plan.
We now live in a world where many of our most prized possessions are housed on computers, websites and cloud-based storage. Additionally, we now access many of our valuable financial accounts online, often opting to receive paperless statements and communications.
The youngest members of the baby boomer generation are entering their 50s this year, which means a large percentage of the population in Massachusetts and the rest of the United States is nearing or has reached retirement age.
Massachusetts residents may be interested in an article discussing some of the basics of estate planning and why a person would need to implement such a plan. Relatives of a person who dies without an estate plan in place could be at a disadvantage.
It's been quite awhile since we devoted a post to business succession planning.
Wealth is a relative term.
In the age of the Internet, estate planning increasingly includes decisions about digital data that would have been inconceivable a generation ago.
There are many good reasons to put in place a sound estate plan. Certainty about the transmission of property to the desired beneficiaries in a timely manner is primary. Estate tax considerations and other factors also often play a role.