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Posts tagged "Estate Planning"

Estate planning requires you to set clear goals

We recently discussed the purpose of estate valuation. This is an important part of the estate plan. If you are in the process of planning out the estate so that your loved ones have a plan when you pass away, you might come to realize that the valuation is vitally important.

Take steps to ensure your estate plan is clearly conveyed

Your estate plan must reflect your wishes for the assets you've amassed during your life. It is imperative that you think carefully about how you will convey these wishes, because your estate plan must be presented in a clear and legally binding manner.

Don't overlook creating your estate plan while you are healthy

Estate planning is easy to overlook since most people don't think about their death. While this is understandable, it can cause problems if something does happen to you. Only around 40 percent of American adults have taken the time to get an estate plan set up. That figure increases to around 81 percent for people who are 72 years old or older, which is a good thing.

Estate planning should cover a host of points

We recently discussed the ways that you can handle your passwords and other similar information when you are creating your estate plan. This is very important in this digital age; however, you can't focus on this so much that you forget about the other important aspects of your estate plan. We know that this is hard to think about, but thinking about this now can save your loved ones time and effort later.

Protecting passwords and other sensitive information

Think about all of the things that you do online on a daily basis. If you are like most people, you have social media accounts, emails and online financial accounts. These certainly make life a lot easier to live. The issue is that when you pass away, your loved ones might not be able to access this information. Here are some important points to consider when you are ready to pass this information on.

Gifts might help you reduce the value of your estate

Making sure that your loved ones get the most that they can out of your estate is a concern of many people. For some people, there aren't any huge considerations here because they don't have massive estates. The issue comes into the picture when you have to try to reduce the size of your estate so that a hefty portion of the estate won't go toward taxes.

You don't want to die intestate, make your estate plan today

You have worked hard for the things that you have. You probably want to decide where your things are going to go when you die. You don't want your family members to fight over them and you don't want someone who doesn't know you to decide where things will go.

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