Once you reach age 60 or so, it’s only natural to start thinking about your legacy: What have you spent your life building? How can you continue to build on it? And how can you be sure it’s passed down to the next generation when you go?
Studies show that those about the age of 60 overwhelmingly want to use their financial resources to invest in their kids and their grandkids—and of course, there are a number of ways to do so.
What can be frustrating is the feeling that the investment you make in your children won’t be well-managed—and in particular, many Boomer-age individuals worry that their millennial-age children or grandchildren won’t be diligent in estate planning, potentially letting those inherited assets go to waste.
As such, one of the greatest gifts you can give to your descendant is to help them with some proper estate planning—making sure that they not only look after themselves, but also that they look after the assets you bequeath to them.
There are a few different ways in which you can help your offspring to get serious about estate planning.
It can frankly be difficult to know where to begin with an estate plan—especially for those who are still quite young, and perhaps don’t think as much about leaving a legacy.
With that said, you can effectively give your son or daughter the gift of an estate plan—something that can benefit your entire family for generations to come.
That’s something we would love to be a part of. To speak with one of our attorneys about setting up an estate planning session, either with or without your kids involved, reach out to the team at Singh Law Firm today.