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Everyone Should Have an Estate Plan in Place

Posted By Lineweaver Financial Quarterback
July 08, 2022 Category: Newsletter, Financial, Commentary, Estate Plan

It’s important to plan for the future, especially when it comes to your legacy. That conversation can be a delicate one, but nevertheless, it’s important. When you think about your final wishes and making sure they are followed, you may also be thinking of your family, friends, and loved ones, and how you want to provide for them, even in a future you can’t be part of. Having the right estate plan in place can help you do this. According to CNBC, 67% of Americans do not have an estate plan explaining they just “…haven’t gotten around to it.” In that same survey, 12% of respondents said they do not know how to get a will. A 2019 Brookdale Senior Living poll, a company that operates retirement homes across the country, showed that 40% of Americans don’t know what’s in their parents’ wills and 30% don’t know if their parents even have a will. Boston College reported that “...roughly $59 trillion will be transferred from approximately 94 million estates in America between 2007 and 2061.” Of that 59 trillion, they report that “... beneficiaries will receive $36 trillion between 2007 and 2061, and $5.6 trillion will go to federal estate taxes.” This is where we can help. At Lineweaver Financial Group and Lineweaver Wealth Advisors, we offer two different paths with a range of options to meet every need. First, we work closely aside many elder law and estate planning attorneys who can work