In many marriages, one spouse manages the finances and the other manages the day-to-day household decisions and maintenance. But what if your spouse tragically, suddenly, passes away?
Accidents happen. Illnesses can strike anyone unexpectedly. So, take a moment to get a few basic estate planning tasks out of the way. You—and the people you love—will be glad you did.
For most families, the estate planning process is more involved than simply naming beneficiaries. While the primary goal of estate planning is transferring assets in an orderly and tax-efficient manner, it’s just as important to focus on preserving wealth across generations.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
