Estate Planning: How to Incorporate Values and Faith Passing along values and beliefs, for many, is as important as a tangible inheritance. Estate planning is a method of accomplishing this. Many opportunities include: End of Life Care An Advanced Directive, Colorado MOST, and healthcare power of attorney allows you to name a trusted friend or family member to carry out your wishes in the event of an illness. This person should be someone who shares your values and faith and will honour your wishes regarding your end of life needs. You may also wish to write instructions regarding organ donations, medication for pain, and hospice arrangements. You may wish to be visited by a member of your clergy. Women who are expecting may want decisions made based on how it will affect their child as well. Funeral Arrangements Your faith may affect how you choose to be buried - whether or not you wish to be cremated, have an autopsy performed, or be embalmed. Your faith may define how you want your funeral services to be performed. You may choose to have a predefined list of people you would prefer come to your wake, and you may wish to pre-pay for your burial plot to prevent overspending from grieving family. Charity Arrangements a common tie among many people of faith is their willingness to provide to charity. Making a final distribution to a synagogue, hospital, university, or other favored cause is something you should ensure you have written into your will. Inheritance Arrangements Another way you may choose to show your love to your family members is to plan the distribution of your assets following your passing. Providing for the religious education of your children and grandchildren may be the way you choose to do so. If your children are still young, choosing someone of your beliefs to raise them and manage the assets left to them will be something you'll want to consider. Call The Law Center today at 303-991-5200 and schedule your free consultation, let us help you ensure your end of life arrangements are in line with your faith and your wishes. The Law Center PC
The Best Inheritance: Family Values and History
The Best Inheritance: Family Values and History According to the recent study titled 2012 Allianz Life American Legacies Pulse Study which focused on surveying those between the ages of 47 and 66, and 72 and older – family values and traditions along with history still mean more to these groups than money when discussing an inheritance. Both groups had a response rate of over 70% agreeing that family stories and life lessons were ultimately the most important part of a family’s legacy.Interestingly, only four percent of the baby boomer generation, between 47 and 66 years old, felt that they were owed an inheritance by their parents, and only 14% of the generation that was 72 and older felt that they should try to leave a monetary inheritance for their children. These low numbers may be due to concerns about living expenses and the loss of their retirement savings due to market values dropping.Although the size of the monetary inheritance is of no importance, the planning for that fiscal inheritance is. Over 80% of both groups were adamant that instructions should be in place in case a parent were to become ill or incapacitated. Both groups were specific about not wanting there to be family conflicts over estate issues, and younger family members were of the belief that keeping family possessions in the family was highly important.Roughly three quarters of the group over 72 had obtained estate planning assistance, and were adamant about impressing upon their children the importance of doing so. Many of them had already initiated end-of-life and inheritance conversations. However, only half of the baby boomer generation interviewed had planned their estate, and even less had initiated these conversations with their own children. It’s likely this related to this group being less frugal than the older generation, or simply feeling they have more than adequate time to plan.The best choice you can make regarding estate planning is to sit down with your parents and discuss it with them – you’ll want to do so right away, before illness or age begin to take their toll. Call The Law Center today at 303-991-5200 and schedule your free consultation today, let us help you smooth the process of estate planning!* 2012 Allianz Life American Legacies Pulse Study, sponsored by Allianz Life Insurance Co. of North American, surveyed 1,000 “boomers” (age 44-67) and 1,007 “elders” (age 72+). The online survey was conducted January 12-19, 2012. For more information about the survey, go to https://www.allianzlife.com/about/news_and_events/news_releases.aspx?articleID=106 : The Law Center PC
Weekly FAQ #5: Small-Town Divorce Attorney?
When you're looking for a divorce attorney, it can be easy to fall into the trap of a local attorney. They seem like they'll be more affordable, and perhaps like you'll receive more personal attention to your case which seems like it might be beneficial. Unfortunately, these ideas may not be correct.
