Looking For The Perfect Gift?
Wondering what to give your loved ones this holiday season? An estate plan is the gift that keeps on giving! Planning provides direction and clarity to your loved ones both while you are alive and after you pass away. Though planning can seem stressful, by failing to plan, we unfairly pass this stress onto loved ones who are left to make difficult decisions for us. Estate planning really does not have to be painful. Often, the hardest part is getting started. To help out, NerdWallet provides 7 simple steps to getting started with your estate plan:
Take inventory of your tangible and intangible assets.
Contemplate how you would like to utilize your assets and estate plan to protect your family.
Select individuals to manage your personal and medical decisions should you become incapacitated.
Check beneficiary designations on insurance policies as well as retirement, investment, and other accounts.
Understand how and if estate taxes may apply to your situation.
Consider hiring a professional to assist with your plan.
Plan for the present, but expect to revise in the future.
Though joy and estate planning are unlikely synonyms, the holidays are the perfect time to think about protecting and honoring our loved ones. Best wishes for a safe and happy Thanksgiving!