Show Me the Money: Why Financial Literacy is an Estate Planning Issue
Clear communication around money is one of the biggest challenges couples face when they get married. Whether it is dealing with differences in spending priorities, budgeting practices, or relationship to money, it can be difficult getting on (and staying on) the same page. Money is one of the leading causes of divorce in America, with financial problems contributing to somewhere between 20% and 40% of all divorces. When it comes to estate planning, having open conversations and addressing concerns around your finances is critical to making sure your plan works how and when you need it to. The immediate issue for finances and estate planning is funding your trust. You must make sure all your assets are titled appropriately to ensure that your trust has authority over your estate. It…
