Delaware Business Times published an article by BMF Partner Michele Muldoon discussing the impending transfer of an estimated $100 trillion in wealth from one generation to the next—one of the most significant financial events in American history.
Drawing on more than 20 years of experience in estate planning, trusts, and elder law, Michele highlights the planning mistakes that can have the greatest financial consequences for families. Among them are failing to create a will, neglecting to update beneficiary designations that can override estate planning documents, and overlooking long-term care costs that can exceed $100,000 annually and quickly erode a lifetime of savings.
As Michele explains, estate planning is more than drafting documents. It requires thoughtful decisions about assets, healthcare, fiduciaries, and family goals—and those conversations are far easier to have before a crisis occurs than during one.
Read the full piece here: https://delawarebusinesstimes.com/news/vwpt-greatest-wealth-transfer-in-american-history-needs-a-plan/
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