Estate Planning in Your 40’s

Our typical client in this age range is usually starting to get close to reaching the peak of their earning potential in their career. Chances are that the children have grown up or are just about grown up. In your 40’s, the focus is likely to shift more to the protection of assets from taxes and preserving as much as possible for retirement and for heirs. Trusts start becoming frequent in this age range. Many people want to avoid the perceived high cost of probate, the lengthy delays in probate of distributing the assets to heirs, and minimizing taxes.

In addition, if you have an adult child that may not be mature enough to receive a large distribution or an adult child with special needs, extra care must be taken to ensure that your wishes are carried out in a way that you think will provide your heirs with the greatest benefit.

estate planning in your 40's

-Strongly consider if you need a trust based on the size of your estate of needs of your family.
-Think about planning needs for children in college or starting plans for grandchildren
-Ensure any existing Wills or Trusts reflect your wishes
-Business Planning needs have been met and are current to reflect any changes in the business

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