I am 36-year-old female and am seeking guidance in estate planning/trusts.
I am single, have no kids, and have started investing in property that I would like to pass on to my sister and her kids in the event I were to pass away.
I am healthy and would like to live to 100, but that isn't necessarily up to me. I have a substantial life insurance policy that lists my parents and sister as the beneficiaries. I own a 2 bedroom condo in NJ (no mortgage), multiple time share weeks with various companies (also paid for) and a 1 bedroom condo in NY that has a mortgage. I have several retirement accounts that also list my family as beneficiaries, but I have never prepared a will. A colleague recommended I set us a living trust and look into estate planning, but couldn't provide me with much more information.
I would love to not only help secure my family's future, but I would also like to set up a funded scholarship with my Alma mater and continued donations to several non-profits that have played a large role in my life. I just don't know how to get started or what steps to take next. Any guidance would be greatly appreciated.