It goes without saying that determination, optimism and confidence are just a few of the traits that have come to define the Baby Boomer generation. Indeed, it's traits like these that have helped many Boomers achieve significant success on both a personal and professional level over the years.
Earlier this month, we discussed how estate planning is not on the agenda of many single parents due to the hectic pace of everyday life, which is typically consumed by trips between work and school, errands and even the occasional crisis.
One aspect of their jobs that most people take for granted is the predictability it offers. In other words, even though their day can become very hectic with phone calls, meetings and paperwork, it will typically follow the same course and end relatively peacefully.
While many Americans would prefer to put the memory of the recent recession behind them, it's important to understand that the economy is finally showing signs of recovery. To illustrate, the housing market has rebounded to a large extent, consumers are spending more and the unemployment rate is improving.
There is absolutely no disputing that virtually everyone needs to take steps to make sure that they have an estate plan in place. However, some experts have taken things one step further and suggested that the need for women to take this step is perhaps even more important.
Now that the spring conditions are finally returning to Minnesota after a long and particularly cold winter, people are thinking about their favorite warm weather activities from fishing and gardening to softball and swimming. Still others, however, are thinking about the chores they will need to get done, including their annual spring cleaning.
An estate plan is essential for the proper distribution of assets according to someone's wishes. Estate planning can also help avoid a future family disaster down the road. Usually included in an estate plan are wills, trusts and a power of attorney. A power of attorney is one of the most crucial components for Minnesota grantors to have in a well-organized estate plan.
A lot of Minnesota have a shoe box (or hat box, or file folder) full of letters from past generations. These mementos of personal correspondence link us to our relatives who are no longer with us and give us a sense of the family’s history. Today, parents and grandparents are writing fewer long-form letters that are sent in the mail, and keeping up with friends and family is done over email or social networking sites. Some of our correspondence might be as simple as a Facebook “like” or as long as an email updating our friends on some of life’s bigger issues.
Imagine that your 18-year-old who just left for college is involved in a serious car accident. He or she is injured so badly that making health care decisions is impossible. After rushing to the hospital to help, however, you are told that you cannot see your child. In fact, the hospital won't even give you updates on your child's condition.