financial wellness
5 Steps to Start Planning Your Estate
Last Updated on September 10, 2025 by Daily News Staff
5 Steps to Start Planning Your Estate
(Family Features) Regardless of your age, it’s never too early to plan your estate and ensure last wishes are met. Estate planning isn’t just for the wealthy – it’s a process that allows you to determine how your assets are bequeathed and managed upon incapacitation or death.
Aiming to promote cultural preservation and secure funds for Jewish institutions, the Jewish Future Pledge is a global initiative empowering families to discuss the importance of estate planning, including why patriarchs and matriarchs should ensure charitable giving continues after their passing. The organization estimates $68 trillion will be transferred to the next generation over the next 25 years with around 20% of this wealth coming from Jewish donors.
Discuss these basic estate planning steps with your loved ones and consider consulting an attorney for individual guidance.
Document Wishes
Although not typically legally binding, preparing a letter of final wishes allows you to share information and requests, like funeral arrangements, which often fall outside of the will. It may also include an explanation of will provisions or suggestions for how funds you’ll leave behind should be used.
Prepare a Will
A legally binding last will and testament is often considered the most important aspect of estate planning. This involves naming guardians for minor children and pets, listing all property, designating people and organizations that should receive assets, directing funds to charities and naming an executor.
Consider Causes Important to You
As part of will creation and estate planning, consider charitable causes you’d like to support after passing. Talking with loved ones can be a way to gather input on important causes, and those conversations can act as a springboard for generations to support a particular cause or organization, based on their shared values.
The Jewish Future Pledge asks Jews and their allies to prioritize these intergenerational conversations as they can be catalysts for families to include Jewish causes and Israel in their estate planning to ensure the future of Jewish people. By signing the pledge, individuals promise that 50% or more of the funds intended for charity will be earmarked for Jewish charities or Israel.
Taking the pledge means individuals can ensure their legacy aligns with their values and clarifies their intentions after passing. For those who already donate to Jewish causes, the pledge acts as a beacon to others to make the same commitment.
“Signing the Jewish Future Pledge is more than just an act – it’s a deeply rooted, emotional declaration of my unwavering dedication to my cherished community,” said Jewish social media influencer and entrepreneur Elizabeth “Lizzy” Savetsky, who became the 15,000th person to commit to the initiative. “In taking this step, I’m fiercely determined to safeguard the rich values and time-honored traditions that have shaped my identity and the lives of countless others.”
Find more information by visiting JewishFuturePledge.org.
Assign Beneficiaries
Naming people who should inherit assets like life insurance policies or retirement accounts is something you may have completed long ago when creating those assets. However, it’s important to ensure the beneficiaries named align with your will to avoid conflict as designated beneficiaries often take precedence over a will, which could create confusion and legal headaches.
Regularly Review Your Plan
Establishing your estate plan is important for ensuring last wishes are met, but it’s also beneficial to revisit the plan regularly to update when necessary. For example, many people review their plans every couple of years or at major life events, such as the birth of a child or grandchild, marriage or divorce, purchasing a large asset, changing life insurance coverage and career changes.
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Jewish Future Pledge
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Lifestyle
Why the First Year Behind the Wheel is the Most Dangerous: Data Shows Teen Drivers 3 Times More Likely to be in Fatal Crash
Teen drivers are significantly at risk of fatal crashes, with those aged 16-19 being nearly three times more likely to be involved in accidents than older drivers. The first year of driving presents heightened dangers, but with proper preparation, including coaching, technology, and smart insurance, families can mitigate these risks and promote safety.
Why the First Year Behind the Wheel is the Most Dangerous: Data Shows Teen Drivers 3 Times More Likely to be in Fatal Crash
(Feature Impact) The driver’s license photo may be slightly awkward, but the milestone is unforgettable. For families, a newly licensed teen means independence, busy schedules and a new set of responsibilities.
Motor vehicle crashes remain one of the leading causes of death for U.S. teens, according to the Centers for Disease Control and Prevention (CDC). Data from the National Highway Traffic Safety Administration shows drivers ages 16-19 are nearly three times more likely to be involved in a fatal crash than drivers 20 and older, per mile driven.
The statistics are serious, but they’re also manageable.
“With the right preparation, teen driving doesn’t have to feel overwhelming,” said Susan Irace, manager, divisional claims at Mercury Insurance. “Experience is what young drivers are building. Parents can help shorten that learning curve with structure, technology and smart coverage decisions.”
Why the First Year Matters
Federal safety data shows crash risk is highest in a teen’s first year of independent driving. Night driving, teen passengers and distracted driving increase that risk – while seat belts, graduated licensing laws and supervised practice significantly reduce it.
In 2023, more than 2,800 teens ages 13-19 were killed in motor vehicle crashes nationwide, according to the CDC. However, teen crash rates have declined over time thanks to safer vehicles, graduated driver licensing programs and greater awareness of distracted driving.
Ways to Reduce Teen Driving Risk
The experts at Mercury Insurance encourage families to focus on preparation rather than panic.
1. Coach Early and Often
- Log supervised driving time in different conditions – highways, rain, nighttime
- Create a simple written driving agreement outlining expectations
- Limit teen passengers during the first year
- Make seatbelts non-negotiable
2. Let Technology Help
- Choose vehicles with safety features like automatic emergency braking and blind-spot monitoring
- Use telematics or safe-driving feedback tools to reinforce good habits
- Activate smartphone “Do Not Disturb While Driving” settings
3. Review Insurance Before the Keys Change Hands
- Add teens to your insurance policy promptly
- Revisit liability limits to protect family assets
- Ask about good student and driver training discounts
“Insurance is about preparation, not fear,” Irace said. “When families combine active coaching with the right coverage, they’re setting their teen up for safer miles ahead.”
Preparation Turns Risks into Confidence
The first solo drive is a milestone, but preparation determines what comes next. By pairing common-sense coaching with today’s vehicle safety technology and thoughtful insurance planning, families can support independence while managing risk responsibly.
For more teen driver safety tips and coverage guidance, visit MercuryInsurance.com/resources.
Photos courtesy of Shutterstock
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Lifestyle
Preparing Students for What’s Next in Work
Preparing Students: Automation, AI and societal economic changes are affecting the workforce and making a significant impact on the employment prospects of future generations. Consider this guidance to put students on the path toward greater earning potential and economic mobility in a rapidly changing economy.
Preparing Students for What’s Next in Work
(Family Features) Automation, AI and societal economic changes are affecting the workforce and making a significant impact on the employment prospects of future generations.
More than one-third of today’s college graduates are “underemployed,” meaning they work jobs that don’t require a college degree and may pay less than a living wage, according to data from the Federal Reserve Bank of New York.
At the same time, a World Economic Forum report explored how advances in AI are threatening to negatively impact access to entry-level and even mid-level jobs for millions of Americans.
Looking ahead, research by Georgetown University indicates that by 2031, 70% of jobs will require education or training beyond high school. However, data from the National Center for Education Statistics indicate only one-third of high school graduates go on to complete a college degree with many of those being in fields that are not in high-earning, high-growth professions.
These challenges are not lost on today’s students. In a survey by Junior Achievement and Citizens, 57% of teens reported AI has negatively impacted their career outlook, raising concerns about job replacement and the need for new skills. What’s more, a strong majority (87%) expect to earn extra income through side hustles, gig work or social media content creation.
“To put students on the path toward greater earning potential and economic mobility in a rapidly changing economy, students need proactive education and exposure to transferable skills and competencies, such as creative and critical thinking, financial literacy, problem-solving, collaboration and career planning,” said Jack Harris, CEO, Junior Achievement.
This assertion is consistent with findings from the Camber Collective. This social impact consulting group identified four key life experiences students can consider and explore that positively affect lifetime earnings, including:
- Completing secondary education
- Graduating with a degree in a high-paying field of study
- Receiving mentorship during adolescence
- Obtaining a first full-time job with opportunity for advancement
Students aiming to equip themselves with the skills and experience necessary for the future workforce can seek:
- Learning opportunities that are designed with the future in mind. For example, learning experiences offered through Junior Achievement reflect the skills and competencies needed to promote economic mobility.
- Internships or apprenticeships that provide hands-on experience and exposure to a career field that can’t be found in a textbook.
- Volunteer or extracurricular roles that develop communication and leadership skills. Virtually every career field requires these soft skills for growth and greater earning potential.
- Relationships that provide insight and connection. Networking with individuals who are already excelling in a chosen field, as well as peers who share similar aspirations, offers perspective from those who are where you wish to be and potentially opens future doors for employment.
- Courses that offer introductory insight into a chosen career path. Local trade or technical schools and other training organizations may even offer certifications that align with a student’s area of interest.
To learn more about how students can pursue education for what’s next, visit JA.org.
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Travel
Tighter Budgets Haven’t Stopped Travel. They’ve Changed How Americans Plan
Tighter Budgets Haven’t Stopped Travel:Tighter budgets are altering American travel plans, but most still prioritize vacations despite financial concerns.
Tighter Budgets Haven’t Stopped Travel. They’ve Changed How Americans Plan
(Tiffany Miller for ALG Vacations) The flight search is open, but many travelers are pausing before they book. Prices feel higher than last year, headlines are heavy and budgets are tighter. Still, the question isn’t whether to take a vacation, but how to make it work.
A November 2025 survey from ALG Vacations of U.S. adults planning to travel in 2026 shows that financial pressure is reshaping how people approach vacations, not whether they take them. While 81% say they have at least some concern about their household finances in the months ahead, 92% say they would still travel even if tighter finances required scaling back.
Financial pressure shapes decisions, not demand
That shift shows up in the small moments of planning. Travelers are taking longer to compare prices, reconsidering timing and adjusting expectations before they book.
Inflation and rising prices top the list of concerns, cited by 61% of respondents, reinforcing why travelers are rethinking destinations, trip length and overall costs.
Concerns about global events and safety follow at 39%, with broader political and economic instability close behind at 38%.
Still, those worries rarely lead travelers to walk away from travel altogether. Instead, many describe pulling back in measured ways, scaling down plans, rethinking details and making trade-offs that keep a trip possible, even if it looks different than originally imagined.
Experience changes how travelers move from planning to booking
Not all travelers navigate those trade-offs the same way. For some, uncertainty slows the process. For others, familiarity helps clear the final hurdle.
Among respondents who have previously booked a packaged vacation through a major vacation brand, 80% say they plan to take an international trip in the next year, compared with 46% of those without that experience.
That confidence carries into spending decisions as well. Sixty-seven percent of packaged-vacation travelers expect to spend more than $2,500 on their next trip, compared with 47% of those who have never booked a packaged vacation.
Taken together, the findings point to a confidence gap, with prior experience linked to greater comfort committing to international travel and higher spending.
Professional guidance plays a larger role when planning gets complex
For many travelers, planning no longer stops at picking dates and destinations. Rising prices, shifting availability and higher expectations have turned vacation planning into a series of decisions that feel harder to navigate alone.
That complexity shows up most clearly among travelers with prior packaged-vacation experience. Ninety-four percent say they plan to use a travel advisor, compared with 81% of those without prior packaged-vacation experience.
The gap suggests that familiarity with structured travel planning often leads travelers to seek expert guidance. As trips become more layered, getting the details right matters as much as the destination itself.
Travel remains a priority, even as decisions slow
The findings suggest that travel is still very much on the table, even as decisions take longer to make. Travelers are weighing trade-offs, seeking guidance and leaning on experience as they plan, rather than walking away altogether.
The flight search may stay open a little longer this year. But for many Americans, the trip is still happening.
Methodology
ALG Vacations commissioned Atomik Research to conduct an online survey of U.S. adults planning to travel and travelers with prior packaged-vacation experience in the United States.
The survey included 1,000 adults planning to travel and a subsample of 502 respondents who had previously booked a packaged vacation through a major vacation brand.
The margin of error is plus or minus 3 percentage points for the full sample and 4 percentage points for the packaged vacation subsample at a 95 percent confidence level.
Fieldwork was conducted in November 2025. Atomik Research, part of 4media group, is a creative market research agency.
Photo courtesy of Shutterstock
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