Various studies show that most adults have not prepared a legal will. However, the point I’m really trying to make is that everyone has a will in a way—just not one that they have executed.
You don’t want to cause a fight over these items, after your dad is gone.
Thinking of exit and estate planning in tandem, allows owners to ask relevant questions to bring their entire picture into focus.
Beneficiary designations are a crucial part of estate planning, yet they are often overlooked. Once you have signed your estate planning documents, you need to make sure that your beneficiary designations are consistent with the rest of your estate plan.
If you and your spouse are child-free, you may think you don’t need to think about comprehensive estate planning—but you’d be wrong. You’ll still want to ensure your assets go where you’d like them to after you’re gone, rather than being divvied up by the state.
Estate planning is a critical part of financial planning, but something many Americans procrastinate about. Drafting a will and a health care proxy or power of attorney, maybe creating a trust, and maximizing your loved ones’ inheritances by minimizing taxes are all important matters you don’t want to leave to chance.
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