• Legacy discussion

    • some people don’t want to leave a numerical legacy

    • legacy planning is a huge part of an overall financial plan

  • Having a financial advisor, and planning for taking steps for leaving money to family or kids takes strategy

  • Estate planning, wills and trusts

    • what is the best? what does each require?

  • Designation of beneficiaries, name changes, update in family dynamics has to be discussed

  • You must fund the trust when you go to your attorney and start one!

    • document that is an entity that owns assets

    • in order for everything to be owned there has to be a title

    • getting things into your trust, first you must change the title on assets

  • Talk to your attorney further about this topic

  • What happens if you pass and you haven’t funded the trust?

    • legal process called probate

      • figures out who owns your stuff

      • setting this up ahead of time will helpers probate and eliminate that

      • things will be contested

May 9, 2019