Estate Planning for Empty Nesters
Your little kids are now big kids who are done with college, getting married and maybe even starting to have kids of their own. You are thinking about your own retirement and the next phase of your life. You say to your spouse, "maybe it's time to pull out that estate plan we did twenty years ago when the kids were five and eight and see whether we should make any changes." You probably named guardians for your now twenty and thirty-something kids. You probably named your siblings or close friends (who you haven't spoken to in ten years) as the personal representative of your wills. Maybe you have moved three times, purchased a Cape house and what once felt like barely getting by now seems like a sizable inheritance for your family. You may have a Massachusetts taxable estate if your net worth exceeds $1M. You may have questions about whether to consider purchasing long-term care insurance while you are still in your 50s and 60s. You may want to begin discussing how best to plan for the future should you or your spouse become ill.
At GPG, we review older estate plans every day, listen to your current goals and help craft an updated plan to meet your needs today. Set up an initial appointment today. Costs generally run between $1,000-$4,500 for estate plans for Empty Nesters.