Where to Start With My Will and Estate Plan
Did you know that your spouse does not automatically inherit your estate? To protect those you love, the most important step is to make a Will. Without a Will, the government gets to decide who your beneficiaries are and how your assets will be shared.
Actions To Take Right Now:
Make a list of your wishes
Decide who will be your executor and choose an alternate
Decide who gets your assets and at what age your beneficiaries will receive their inheritance
List of instructions for your burial and funeral
If you have dependent children, name a guardian
When you have a Will, be sure to put it in an easy to find, secure place such as a safety deposit box or fire safe and tell your executor where to find it.
Next Action To Take:
Power of Attorney in the event you become incapacitated due to illness or injury
Look at your Life Insurance Policy and make adjustments to suit your stage of life
Look at your Estate Plan and associated Tax obligations
Consider setting up a Trust to hold assets on behalf of your beneficiaries to be distributed according to your instructions.
For help with your Will and Estate Planning, contact Vanessa Benedict
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