It is ordinarily assumed that wealthy people will leave the majority of their assets to their children. However, if a wealthy person does not have any children, then something else needs to be done with the assets.
A rapidly growing number of Americans are choosing to wed later. If you are one of the many individuals planning a later-in-life marriage, you should include a trip to your estate-planning attorney on the list of things to do before you say “I do.”
While most Americans who live with a significant other are still getting married, many are choosing not to. For wealthy single people it often makes sense not to get married as marriage would result in a higher tax burden.
After the suicide of Robin Williams, the public soon learned that his estate plan called for everything to be left in trust for his children. Williams was praised for his proper estate planning and for acting to take care of his family before taking his own life.