| With the passage of time comes change. This includes your estate planning needs: |
|
|
| When you are unmarried, providing in your will for your parents, siblings, nieces and nephews, or a favored charity might be your main priority. |
|
| A couple with young children should name a guardian for their children, regardless of whether the couple have a substantial estate. |
| A couple with older children might wish to provide for guidance and control through a trust for assets passing to benefit children who have not yet matured. |
| Couples with taxable estates can use revocable trusts to preserve their estates for children or other noncharitable beneficiaries after the death of the surviving spouse. This planning must be done before the death of the first spouse. |
| Persons who have already retired can balance present needs against the possibility of making educational or other lifetime gifts to children or grandchildren and substantially reduce their taxable estates and future estate taxes. |