Topic: assets
Financial planning. Whether it’s for yourself or for your parents, having an understanding of assets in the context of when you’re retired is essential. You’ll need money for your basic needs, money to maintain the lifestyle that you want to live, money to still travel if that’s a priority, and for charitable giving, if that’s a priority.
You will also need money to cover medical expenses and eventually for long-term care. The care that we’ll be talking about today and the money that you have saved needs to be able to cover these expenses as well. …
If you have more than one child, deciding how to distribute your assets among them may prompt some angst: If and how should your will or trust reflect your understanding of their different needs? According to a Merrill Lynch study, two-thirds of parents over age 55 are open to the idea of unequal bequests.
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