Why wait? A variety of trusts—from SLATs to BDITs, GRATs and more—can help you be proactive in protecting your wealth.
The COVID-19 pandemic, which has kept many workers home, was a kind of test drive for retirement. You learned what it’s like to stay out of the office for long periods of time. However, many companies are hurting because of the economic turmoil from the coronavirus, and if you’re 50 and older, and your employer needs to cut costs, they may be looking at cutting you from the payroll.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.