ESTATE PLANNING

ESTATE PLANNING

Estate planning is the act of preparing for the transfer of a person's wealth and assets after his or her death. Assets, life insurance, pensions, real estate, cars, personal belongings, and debts are all part of one's estate.

Some of the major estate planning tasks include:

- Creating a will

- Limiting estate taxes by setting up trust accounts in the name of beneficiaries

- Establishing a guardian for living dependents

- Naming an executor of the estate to oversee the terms of the will

- Creating and updating beneficiaries on plans such as life insurance, IRAs and 401(k)s

- Setting up funeral arrangements

- Establishing annual gifting to reduce the taxable estate

- Setting up durable power of attorney (POA) to direct other assets and investments

COPYRIGHT Missy Pursley 2016

WEB DESIGN BY www.designbyck.com

COPYRIGHT Missy Pursley 2016

WEB DESIGN BY www.designbyck.com