Ethical Letters: What Is It And Why Its Important
With a New Year, we are often more introspective about our life. This can be a great time to write a "legacy letter,". This documents, also known as an "ethical will" or "spiritual will," is a way for individuals to communicate their values, beliefs, life lessons, and personal reflections to their loved ones. Unlike a traditional will, which primarily focuses on the distribution of assets and property, a legacy letter is more concerned with passing on intangible aspects of a person's life.
Navigating the Complexities of Estate Planning in a Blended Family
Estate planning is a crucial financial step for every individual or family, regardless of their unique circumstances. However, when a family is blended—comprising stepchildren, stepparents, and half-siblings—estate planning can become considerably more complex. The complexities stem from the potential for conflicts of interest and misunderstandings among family members.