The Importance of Estate Planning
The latter portions of your life can be a mixed bag of experiences. After decades of hard work, you may be retired and resting on your laurels. You may have an active and present role in your children's and grandchildren’s lives. Or perhaps you have chosen to settle in a new place altogether. Regardless of where you have settled for your twilight years, it is essential to have plans for your eventual death. A good person leaves an inheritance for their children’s children. - Proverbs 13:22a, NIV Taking the time now to plan for the end of your life and what happens afterward will save your grieving loved ones from significant trouble. Anyone who has dealt with the care of aged parents knows that many things need to be handled. There are legal, medical, and financial decisions that need to be made. Having as much taken care of ahead of time will prevent heartache and misunderstandings. Wealth Then Joshua dismissed the people, each to their own inheritance. After these things, Joshua son of Nun, the servant of the Lord, died at the age of a hundred and ten. And they buried him in the land of his inheritance, at Timnath Serah in the hill country of Ephraim, north of Mount Gaash. – Joshua 24:28-30, NIV The big question in any rich person's murder mystery is always “Who benefits?” However, it is probably best to leave that kind of drama to the silver screen. For the sake of everyone, make things clear. You should have a will in place to determine what happens to your wealth. In addition to real estate and bank accounts, having clear instructions for jewelry and family heirlooms may be helpful. Initiate conversations with your children and grandchildren about heirlooms. There may be things you own that [...]