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