Solving the Financial Puzzle

Ep #150: I’m Dead, Now What? Preparing Yourself for Estate Planning

August 1, 2019

No one wants to think about death but thinking about how your assets will be handled when you’re gone is a necessary part of life. Effective estate planning can leave you in control of your hard-earned money and investments, but it can also make the process clear and efficient for your heirs. Using the checklist provided today will help you make all the considerations you need for your estate plan.

Read more about this topic and see the show notes here. 

Take a look at the rundown for this episode: 

1:00 – Why are we talking about death?

3:54 – If you don’t have a written estate plan yet, well there’s good news and bad news.

5:08 – Checklist Item #1: When was the last time you had an estate plan done?

7:35 – Do you have an appropriate power of attorney and/or backup for that?

8:40 – Your assets won’t necessarily pass according to your will. Here’s why.

9:58 – Story about a child of a client who recently dealt with an inheritance that didn’t pass through the trust like they expected.

10:59 – Should I have a will or should I have a trust?

12:39 – How you can avoid probate without a trust.

14:16 – Making sure your assets are titled correctly.

15:51 – Discussion turns to beneficiary designation.

16:33 – Life milestones that become good times to update your estate plan.

17:42 – Taxes at death that could impact heirs.

20:52 – Who can you go see for estate planning?

22:01 – Expected costs for estate planning and why paying a little more might benefit you.