Seasons of Life
What’s the right age for adults to begin estate planning? In most states, the only legal requirement for a valid will is that a person be age 18 or older and “of sound mind.” As a practical matter, the need for a will and other estate plans starts to arise when a person assumes family responsibilities or accumulates personal wealth sufficient to warrant planning for its distribution. Estate planning needs and goals change over the decades, but there are many ways to incorporate philanthropy into the plans.
|Ages mid-50s to 60s||Ages 70
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The materials contained on this website are intended only to show some ways by which you can make a charitable gift or bequest and thereby minimize federal tax liabilities, as authorized by the Internal Revenue Code. All examples are of a general nature only and should not be applied to your specific situation without first consulting your attorney or other advisers.