The impact of the economy on estate planning

According to a Federal Reserve study, Americans lost nearly 40 percent of their estates between 2007 and 2010. This includes a median $42,000 loss in the value of American homes, most people’s most valuable asset. High unemployment also negatively affected retirement savings plans and lowered credit scores. The Great Recession impacted families’ lifestyles, retirement plans and – sometimes overlooked – estate planning needs. For example, increased unemployment has led some people to create their own startups. Such startups, even in Continue Reading