July 28, 2020—Creating strong communication practices within your family is an important component of legacy planning, and even more important during challenging times.
This article reprint was published in Wealth Counsel Quarterly and discusses college education funding alternatives. When the older generation of a family wants to make a positive difference in the lives of the younger generations, providing funds for their education is often seen as a way of leaving them with a lasting legacy. However, the cost of education is rising precipitously.
Although we are facing many challenges on the health, economic, and market fronts, we would be remiss not to explore the positive ways that your estate plan may benefit from low interest rates and depressed asset values. As with any planning strategy, it’s important to consult with your advisors to be sure you are incorporating strategies that are appropriate for your particular situation.