Any parent will admit that raising kids is no easy task: From helping your children with their school work to planning dinner each day of the week, your schedule is packed! With all the hustle and bustle taking up your time, it’s likely that the last thing on your mind is estate planning for your children’s future.
If this sounds like you, then you aren’t alone: According to a survey conducted by Caring.com, 78% of millennials (ages 18 to 36) and 64% of Generation X (ages 37 to 52) do not have a will.
The fact is, the younger you are, the less you think about end-of-life issues like estate planning. But that doesn’t mean it’s unimportant. If you don’t have an estate plan, you have far less control of how your wealth and property are divided.
This is especially true if you have (or plan to have) children. Once you do have kids of your own, providing for their future will become your top priority.
One of the best ways to do that is to plan how, when, and to whom your estate should be divided. The sooner you start estate planning, the better; as you grow older and circumstances change, you can adjust your will accordingly.
So what exactly is estate planning and how does it work? We cover everything you need to know below. Just click the links for additional content, courtesy of The Bestow Team ….
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