If you have lived a full life, as you pass through your twilight years you will probably be at peace with your own mortality. But the thing that many people find hardest of all to cope with is the idea that they will no longer be a resource that their loved ones can call on for love, support, and guidance.
From the time you become a parent for the first time you are hardwired to the responsibilities that go along with having someone rely on you, and this feeling persists as your children grow older and enter adulthood. As your grandchildren are born yet another level of connection and responsibility takes hold, and those who live to see their great-grandchildren enter the world experience yet another facet.
These deep and abiding connections to the ones that you love are hard to let go of, and as a result many people will recognize the fact that the way that they plan their estates can make a lot of difference in the lives of their loved ones.
If you take the matter to heart you may want to identify all the people that you want to provide for well before you enter the latter stages of your life and craft a plan that satisfies all of your legacy goals. Depending on the specifics of your financial status it may be a long-term plan that requires financial discipline for a number of years or even decades.
The point that we are trying to emphasize here is that a crossroad of divergent viewpoints must be negotiated when you’re planning your estate. If you are only concerned about getting yourself to the “finish line” while enjoying yourself to the utmost along the way without regard to what you leave behind a certain type of planning is necessary. But if you have specific intentions with regard to making provisions for the well-being of your family members some more careful long-term budgeting may be necessary, so the sooner you recognize which path you will be traveling the better.
Latest posts by Saul Kobrick (see all)
- What Must I Show to Prove Undue Influence If I Contest My Father’s Will? - December 3, 2019
- The Questions of Estate Planning, Part 3: When - November 26, 2019
- What Happens If My Sibling and I Disagree about Medical Treatment for My Father? - November 5, 2019