Preserving Your Legacy: Estate Planning Tips for Financial Confidence

Oct 24, 2023

October is National Financial Planning Month and it can be a goodtime to focus on estate planning—an important aspect of your financial strategy and legacy preservation. Here are some valuable tips to get you started:

  • Create a Comprehensive Will: Help ensure your assets are distributed according to your wishes by creating a clear and comprehensive will with the help of a qualified professional. Review and update it as needed to reflect your current circumstances.
  • Explore Trusts: Trusts can offer added control and flexibility in managing your assets. Consider revocable and irrevocable trusts to help protect your wealth and reduce the burden of probate.
  • Designate Beneficiaries: Keep beneficiary designations up to date for retirement accounts, life insurance policies, and other assets. This ensures a smooth transfer of assets to your heirs.
  • Plan for Incapacity: Establish powers of attorney for financial and healthcare decisions, as well as advance healthcare directives. These documents help ensure your wishes are followed if you become incapacitated.

Preserving your legacy is an important part of your financial journey. If you have questions about planning for the financial aspects of your estate and legacy, give us a call at 602-845-0871.