Law Offices of Connie Yi, PC
California
Estate Planning
& Tax Law
Toll Free: 888-312-6978
Website Navigation Menu

Estate plans often include charitable giving & non-family heirs

The average American family looks very different than it did in previous generations. Large families with a lot of kids used to be the norm, but many couples now choose to have between one and three children, and some couples decide to forego having kids altogether.

This change in family structure and an increasing divorce rate have caused a change in the way that Americans think of their estates. When families were much larger, it was often a foregone conclusion that a couple’s entire estate would be divided among their children. But as baby boomers create their estate plans, they are faced with more options.

Boomers with only one or two children may decide to keep all of their estate within the family, but they’ll include grandchildren, nieces and nephews as heirs. Trusts can be a good way to help these relatives pay for college when they get older.

An increasing number of baby boomers and others are choosing to include charitable giving as part of their estate plan. This includes couples without any children as well as those with kids who feel that they have enough wealth to spread around. The charities that they already support are often ones that they want to continue supporting after they pass away.

Still, for others, estate planning involves choosing to bequeath wealth and assets to friends and loved ones outside of the biological family. Neighbors, coworkers, roommates and anyone else who has been a significant part of your life could be named in your will if you so choose.

No matter what you decide to do with your money, property and other assets, it is imperative that you have a solid estate plan in place. An experienced estate planning attorney can help you through the entire process as soon as you’re ready to get started.

Source: The New York Times, "In Estate Planning, Family Isn’t Always First," Caitlin Kelly, May 2, 2014

No Comments

Leave a comment
Comment Information

Contact Us Now to begin your initial consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Office Locations

Law Offices of Connie Yi, PC
490 Post Street, Suite 508
San Francisco, CA 94102
Phone: 415-433-3350
Toll Free: 888-312-6978
Map and Directions

Additional Office Locations:
Pleasanton
323 Ray Street
Pleasanton, CA 94566
Phone: 925-484-0888 
Pleasanton Law Office Map

San Mateo
1900 S. Norfolk Street, Suite 350
San Mateo, CA 94403
Phone: 415-433-3350
Map and Directions

Sunnyvale
1250 Oakmead Pkwy, Suite 210 
Sunnyvale, CA 94085 
Phone: 888-312-6978 
Map and Directions