Here's how you can navigate estate planning and wills as a late-career airport manager.

And ensure you seek professional advice. Many people think this is simple, but for most “you don’t know what you don’t know”. So let someone who does guide you through it !

Consider the needs of beneficiaries and who you don’t want to give as well. This clarity will help you a better Will that will avoid disputes and prevent unnecessary hardship to beneficiaries. And by taking the needs of beneficiaries into account, you will ensure your inheritance really is a blessing to them.

As a late-career airport manager, consider these steps for estate planning: Inventory: List your assets (house, savings, retirement accounts). Beneficiaries: Decide who inherits what (spouse, children, charity). Will: Create a legal document outlining your wishes (lawyer recommended). Power of Attorney: Appoint someone to manage finances if incapacitated. Review: Regularly update your plan as your life and assets change. Remember, a simple will is better than no plan at all. Consider a lawyer for complex situations or larger estates.

As an airport manager, you're accustomed to planning and structure; apply these skills to outline your assets, debts, and the beneficiaries you wish to inherit. Consider creating a will, which is a legal document that specifies how your assets should be distributed after your death. Without a will, state laws will determine the distribution, which may not align with your wishes. Start by listing your assets, including investments, property, and any aviation-related valuables you may have accumulated over the years

While setting up legal documents, legal help is definitely necessary. However you might also want to seek advice and suggestion from non legal-professionals like estate planner, accountants or financial planners. They may offer good solutions to tie in with your Will and Trust to ensure your Legacy lives on.

Lawyers specializing in estate law can help you understand the complexities of wills and trusts, ensuring your assets are allocated as you intend. They will guide you through designating executors, who will manage your estate, and beneficiaries, who will receive your assets

trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of beneficiaries. Different types of trusts can provide tax benefits, protect privacy, or manage assets for minor beneficiaries.

As an airport manager, you're familiar with the need for operational efficiency, and tax planning is no different. It's about ensuring that your beneficiaries receive the maximum benefit from your assets with minimal tax burden. You may want to explore options such as gifting parts of your estate in advance or setting up charitable donations to reduce estate taxes. Consult with a tax advisor to navigate these options effectively

Make sure the Constitution reflects the Buy Sell Agreement instructions to avoid any misunderstanding or disputes. At the same time, consider any debt cancellation instrument to cancel the liabilities or contingent liabilities that an owner sometimes can get into like providing personal guarantees for business loans.

Decide who will take over your responsibilities and how to transition ownership or shares smoothly. This may involve training a successor or establishing buy-sell agreements with partners. Your goal is to ensure that the business you've worked hard to build continues to thrive without causing unnecessary turbulence for your heirs

This includes anything from social media accounts to digital currencies and online bank accounts. As someone who's likely overseen technological advancements in airport operations, you understand the value and complexity of digital assets. Make sure to leave clear instructions on how these should be handled, accessed, and distributed after your passing.