A love for nursing and a desire to help young people prompted a Norfolk man to include a nursing scholarship at Northeast Community College in his estate planning.
A Last Will and Testament is a document you create during your lifetime that directs where your assets that are subject to probate (the formal process of having your assets distributed through the court system) will go at your death.
Succession planning involves accounting for the worst-case scenario. Without accounting for these risks, your plan could fail, require expensive litigation or jeopardize the family farm.
Some people choose, upon their passing, to give their inheritance to a specific charity or organization. The great news is you don’t need a famous surname to give like a philanthropist.
While couples might sign a prenuptial agreement before they’re married and a “post-nup” after, it’s more than just the timing that differentiates these arrangements, experts say.
Estate planning might sound like something that’s just for wealthy people with huge beach houses and billions in the bank. However, the truth is that estate planning is something we all need to think about.
