I've recently read a number of posts questioning the idea of insuring oneself without dependents or of insurance one's parents and children.
Biting my tongue, I've decided to hold off with specific comments and prepare a more comprehensive discussion of the topic. However, before I do, I'd be grateful if you would share with me a brief outline of your estate plans (insurance, trusts, wills, guardianships, pour over wills, asset title, etc...) that you might have in place. It will help me write a more thorough and comprehensive posting on the topic.
Over the last four years I have spent a great amount of time and money researching the complex maze of estate planning, trusts and wills. Initially it was motivated by the imminent birth of our first child, however, it had been a long standing preparation that I had been itching to resolve. I know have a comprehensive plan in place and have already completed my first very thorough revision. I will share what we've done in our next posting on the topic after I've had the chance to review what you, the readers are doing and interested in.
So, please, share with me your questions (I may not have answers for everything - this is an arcane topic), goals, strategies, actions and rationale regarding estate planning.
I have a feeling this is certainly going to be a dead-on topic for the mid 30s - 40s crowd, as most of us are at a stage in life where the impending mortality of our parents highlights the need for our own preparations - especially those of us with dependents.
Have a wonderful day,