Introduction To Estate Planning
Posted on February 18, 2008 - Filed Under Education, Legal and Law | Leave a Comment
Estate planning is the creation of a comprehensive financial plan to provide for your spouse and heirs upon your passing.
The old saying tells us that we can’t take it with us. It is true. The question is what we do with it then. People often start their life just trying to make ends meet. As time goes on, they begin to acquire a certain amount of wealth. If they are lucky and smart, they provide for themselves and for the people that are dependent on them while at the same time accumulating property and even more wealth. When they die, this represents their estate. Estate planning is the process that determines what happens to all of this after death.
Read More..>>The Great Will Myth
Posted on February 5, 2008 - Filed Under Education, Legal and Law | Leave a Comment
Families are constantly reminded about the importance of creating a will to define how assets will be transferred to heirs. It seems like common sense, however many people delay the process thinking the inevitable will never come. To further compound the problem, most people have been led astray, thinking a simple will is the only instrument necessary for the transfer of assets upon death. Why is this scenario flawed?
Many people do not fully appreciate the difference between a well thought out estate plan, designed for wealth preservation in contrast to a will which is established primarily to name the benefactors of the deceased assets.
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