It’s the Boy Scout motto, and a wise piece of advice for life in general, but especially your finances! You never know when you’re going to have an emergency or unexpected rainy day; you also never know when you may unexpectedly pass away. Have you considered how your family will fare when it happens? There are a few things you can take care of now, to give them the peace of mind that they deserve.
- Pre Arrange Your Funeral: It can sound morbid, but it is really very practical. If you have definite ideas about how your funeral should go, talk to a local funeral home about making arrangements ahead of time. Many offer either funeral insurance or a trust, so that the expenses go directly toward the service you choose. However, purchasing a Life Insurance Policy could also take care of the expense as well as others your family might incur.
- Draw Up A Will: Your estate is made up of everything you own: your home, vehicles, all assets and any “stuff.” You need to make a plan so that any bequests or wishes you may have are carried out, and your estate passes or is dispersed among to whom you want it to be.
- Set Up Accounts: To make sure your family gets the most out of your estate, you need to sit down with an estate planner. There are many options for your retirement funds and trusts as well as ways to help your family work within the tax code, get the most benefit, and get it through probate.
No matter what phase of life you find yourself, now is the time to plan for your family’s future. With Decatur estate planning assistance from Turner Law, LLC, you’ll find strong help and solid advice!
Posted on behalf of Turner Law, LLC