You also need to prepare healthcare directives and determine who should manage your affairs should you become incapacitated in the event of an accident or illness. What usually prevents individuals, with or without children, from estate planning is that they don’t want to face their mortality.
The article suggests considering establishing a donor-advised fund, which operates similar to mutual funds designated for charitable giving. The funds allow an individual to make a one-time or ongoing contribution through the donor-advised fund, which reduces fees and paperwork. Donors can designate the funds to one or more charities.
Ask your estate planning attorney about these strategies.
For more information, please visit my estate planning website.
