As we get older, we tend to hang on to mementos that brought some type of meaning to our lives, even after time has diminished their value. Though we may be emotionally attached, this clutter can eventually overwhelm us, especially as seniors. If you find yourself drowning in items you no longer need or want, consider a minimalist lifestyle to free up your space — and your mind. The Benefits of Minimalism A Perfect Lifestyle for Seniors
Out of Your Estate Plan Making Sure Your Heirs Get the Most
The primary goal of estate planning used to be to avoid the estate tax. However, because of new tax laws passed by Congress, we’ve seen a trend away from that goal over the past decade. Avoiding the estate tax is really only a concern for the top 1% of earners in the U.S. at this point. Now, the primary concern associated with estate planning has more to do with the human side of things. Through their estate plan, most people want to minimize the burden on their surviving heirs and ensure the assets they leave behind will be put to the best use possible. The last thing anybody wants to happen as a result of their estate plan is a family divided and arguing over who gets what. But if you don’t update your plan as family situations change, your family could be left with an estate plan that no longer works in their best interest. What if one of your heirs goes through a divorce? What if your assets go to someone you don’t even know? Both of these scenarios are very possible in many families, and many more should be considered when creating or updating your estate plan. One thing to think about when deciding which heirs get which assets is how you can maximize the good your assets will do for them. Many people just leave their assets to their kids, who are usually in their 50s when they receive their inheritance. At that age, they’re probably already financially stable, and they’ll just put the inheritance money in a bank. If you leave money primarily for your grandchildren, however, they might actually use it for things they need, like a down payment on a house or other major life purchases. The world is getting more and more complicated, and the world our children, grandchildren, and great-grandchildren inherit is fraught with new challenges. However, with the right estate plan, you can make sure your family is prepared for whatever comes. Give Phillips & Blow a call today at 303-741-2400 to begin discussing your options with our skilled attorneys.
MINIMALISM
Before taking on a minimalist lifestyle, it’s important to understand what it entails. When someone hears the word “minimalism,” they might think it means getting rid of their possessions one by one, but that’s not entirely true. Instead, minimalist living focuses on having less clutter in our lives but still keeping the things we truly value and enjoy. The idea is to get rid of things we no longer use or need.
MINIMALIST LIVING
To embark on a minimalist lifestyle, focus more on the present and consider the value your personal belongings have in your life now . Sorting through hundreds of items with thousands of memories is a daunting task, so it is best to start by removing things that might not require emotional or physical strain, like old magazines, broken items, or clutter in the junk drawer. Once you’ve taken this first step, move on to something bigger. Soon, you’ll find yourself making steady and rewarding progress throughout the rest of your home. In the process, pay attention to what you want to keep. Carefully select which objects mean the most to you and which ones are still useful. These are the belongings you should surround yourself with.
THE BENEFIT OF MINIMALISM
Minimalism will help you feel more comfortable in your home and open up other possibilities. You will have more room to invite guests and family over, and you’ll have a sense of space and freedom. Additionally, this lifestyle can also help with your finances. You’ll be less tempted to buy what you don’t need, and you may even rearrange spending priorities or downsize your living space (less rent!). If you surround yourself with meaningful and useful items, you will feel more at peace. Ultimately, minimalism encourages us to free ourselves from the many things that own us as much as we own them. Don’t allow accumulated objects to clutter up your home and life. Take the leap and start living a carefree, minimalist lifestyle.
2
WWW.PHILLIPSANDBLOWLAW.COM
Trusts • Probate • Long-Term Care Planning • Elder Law
Made with FlippingBook - Online catalogs