Take control of your future, today
Estate planning may seem like a topic for your parents and grandparents. But taking care of this planning activity now allows you to control what happens to your current assets and assets you acquire in the future. Your estate plan documents should be reviewed every three to five years or whenever there is a significant change in your family or financial situation, or when tax laws change.
Here are some things to consider:
- What is your intent for your wealth?
- Who would you like to receive your assets at your death?
- Who should be in charge of settling your financial affairs? This role requires time as well as expertise in legal and tax matters.
- Who should take care of your minor children if you cannot?
- If you become incapacitated, who should make financial, medical and legal decisions for you?
- If you are a business owner, who will handle the business if you become incapacitated or die prematurely?