Planning for retirement is the best way to make sure that you are financially stable in the future when you won’t be earning an income. This planning includes more than putting aside a certain amount every month, it is more about figuring out how much to save depending on many different factors in your life such as the economy or medical emergencies. Here are some of the most important factors to consider when planning for retirement.
Many self-made millionaires in their 30s maintain that working smart and working hard can bring you from just making ends meet to a 7-figure income in as little as a decade. It can happen in many ways but it depends on how well you manage your life. Here are a few tips to help you stay focused on the things that matter toward your personal and financial success.
There are many things that we cannot predict, but can prepare for, such as death. After your death, or even if you are disabled and unable to make decisions for yourself, you need to make sure someone can make important decisions on your behalf. This Agent should be someone you can trust and will carry out your wishes exactly they way you would like. Here are different types of agents everyone must have.
Though estate planning is mainly viewed as a way to pass on your financial wealth and property, when done right, it also enables you to preserve and pass on your true legacy: your memories, values, and wisdom. And it can also be a source of overall healing in the family. With the right support, having these all-important final conversations doesn’t have to be intimidating or awkward at all.
Just like any parenting arrangement, platonic parenting requires massive levels of trust, communication, and planning since child-rearing is an immense responsibility that lasts a lifetime. Having an estate plan designed specifically for your family's condition that spells out you and your partner's legal rights, responsibilities, and wishes ensure your new family has a proper legal foundation that keeps them away from court and conflict in the event of your potential incapacity or death.
Your family's most precious wealth is not money, but the memories you make, the values you instill, and the lessons you hand down. These intangible assets are likely to be lost forever however, these could be preserved and passed on to your loved ones through comprehensive estate planning at definitely no extra cost. As your Family Startup Lawyer™, we can help you customize your estate plan and help you pass on not just your financial wealth, but your most treasured family values as well.
Proactive measures to help stave off risks posed by the big wealth transfer is important to make sure your wealth is protected and put to the best use possible, regardless of how much or how little wealth you plan to pass on or stand to inherit. Having a comprehensive plan and openly discussing your values and legacy with your loved ones is another key way to ensure your planning strategies work exactly as you intended. Here are several important actions to take for wealth transfer.
Conflicts frequently erupt in blended families as children, especially from a prior marriage and spouse's interests, often aren't aligned. As Estate Planning mistakes become costly when your family have to sort out disagreements in probate court, it is critical that you clearly state your terms in your estate plan and that you communicate and explain your wishes to your loved ones in person while you're still alive to reduce the chances of conflict and to bring them closer at the same time.
Scammers view seniors as easy targets and nowadays, they use a wide array of sophisticated and highly effective tactics which even the most intelligent and educated can be duped. Be alert and protect your aging loved ones and yourself from such predators by knowing the three big red flags of financial exploitation we listed to safeguard your family's finances.
Each of us is at constant risk of experiencing a devastating accident or disease that may leave us incapable of caring for ourselves & our loved ones. Temporary or not, such may render emotional trauma, or worse, financial loss. This is why incapacity planning is significant to ensure someone can take charge of your legal decisions in case you are incapacitated to keep your family out of court & out of conflict. Consult with an experienced lawyer like us to guide you in this decision making.