estate planning

We’re making some exciting upgrades and enhancements at Sterling Wealth Partners.

Aretha Franklin, the “Queen of Soul” and arguably one of the greatest singers of all time, recently passed away at age 76. Unfortunately, she joins a long line of wealthy people and celebrities (Prince, Howard Hughes, and James Brown among others) who did not have a will or estate plan in place.

Thinking about death, and what is going to happen to your family when it you pass away, is an uncomfortable topic for most people. Then, when you phrase it as “estate planning”, most people just say “well that is for wealthy people” and rationalize that they do not need to do it.

Here's a stat for you:  in 2011 the Social Security Administration stated that a 20-year-old has a 30% chance of being disabled and unable to work for six months or longer prior to reaching retirement age.

It's an interesting thought actually - not because the topic itself is all that fascinating.  But simply because for something typically so far on the back burner it's almost off the stove, the chances of it happening to either you, your spouse, or your best friend is almost a statistical lock.