What Is Estate Planning And Why Is It Important

Have children or elderly parents. What is estate planning.

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Do you have an estate plan in place.

What is estate planning and why is it important. Many people believe that having an estate plan simply means drafting a will or a trust. Believe it or not you have an estate. In fact nearly everyone does.

However there is much more to include in your estate planning to make certain all of your assets are. If you are going through or even contemplating a divorce the single most important step you can take to make sure that your desires are carried out is to execute a new will power of attorney and health care proxy. Glossary containing definitions of commonly used estate planning terms.

Attorneys who take a special interest in probate estate planning guardianship and family law. While you may think that. Divorce and estate planning.

And by creating your estate plan online you can save yourself a lot of money. By cathy pareto cfp aif contact author biography uses of life insurancelife insurance is present in almost every estate plan and serves as a source of support education expense coverage. By educating yourself up front and understanding how an estate plan works you can save yourself a ton of time.

Your estate is comprised of everything you own your car home other real estate checking and savings accounts investments life insurance furniture personal possessions. If you answered yes to any of these heres another question for you. What about savings or a home.

Proper estate planning is an important component of your financial plan as it can help your loved ones avoid an expensive time consuming process after you pass away. A group of wealth strategists at cibc private wealth managment noticed that the women in attendance at educational seminars for client couples were often mum.