Ask these three estate planning questions for the benefit of the next generation

Common estate planning in the United States typically suggests leaving everything first to a spouse, then to children. If you are unmarried and have no children, then choose the closest friend or relative to receive your assets.

However, estate planning can be more nuanced than that. Consider these important questions when you are designing your estate plan:

1. Who will get the resources?

2. How much is enough for them?

3. Are they prepared to receive the resources?

These three questions provide people an starting place for planning their estate. Once you have considered these three questions, then you can begin digging deeper into how you can pass along your lifetime of wisdom on to the next generation.

This content was written by Spencer S. Hall CFP®, RLP ®, CKA ®, MBA, MDiv

Spencer is a Certified Financial Planner™ with 14 years in the field of retirement and financial planning. As a second-generation financial advisor at Retirement Planning Services, Spencer brings a wealth of experience and passion to help clients align their wealth with their core values.

Advisory services offered through Retirement Planning Services, LLC.

The information in this article is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.