Estate planning is a critical aspect of financial preparedness, ensuring that your assets are distributed according to your wishes after your passing. However, as life evolves, it becomes essential to periodically review and update your estate planning strategies and documents. By doing so, you can not only protect your legacy but also alleviate potential burdens on your heirs. In this article, we will explore the key considerations when updating estate planning strategies, emphasizing the desire to create a seamless transition for your loved ones, while directing readers to the accompanying resource for more specific information.
Regularly updating your estate planning strategies and documents is crucial to ensure a smooth transition for your heirs while protecting your legacy. By reviewing and updating your will, establishing or reviewing trusts, naming beneficiaries, updating power of attorney and healthcare directives, minimizing estate taxes, and communicating your intentions, you can create an estate plan that not only preserves your wealth but also minimizes the burden on your loved ones.
For more information, click below to download my free checklist to help you understand the considerations behind your estate updates. As always, discuss any strategies with your personal advisors before implementing them.
A great financial advisor can be life changing. They can help build clairity and confidence but as in any profession there are plenty of bad apples. Use these tips to find an advisor that is right for you and avoid those that overpromise and underdeliver.
our career moves arguably make a bigger impact on your financial life than almost any other decision. To make a good decision for your family it’s important that you weigh your job options carefully. Here are 3 steps to consider
When you begin exploring consulting, whether on the side or as a second career, we generally attempt to answer two questions. The first is fairly obvious, “How much should you get paid as a consultant?”. This pushes us toward a lot of questions around how that individual views their business of consulting. The second question I recommend would-be consultants answer is, “What will taking consulting jobs change about my vision for the next stage of life?”. I have found that we can frame both these questions a bit better when we begin by determining what hourly rate you can expect to target in your initial consulting jobs.