Step 5 of Building a Solid Financial Foundation by Chantay Moore

The final step of completing your financial plan is to create an estate plan. An estate plan is a comprehensive and up-to-date plan of legal documents that protects you and your family by outlining the management and distribution of your money, assets and legacy wishes while you are alive and in death. Every person, young or old, especially those who have a family or owns property, needs an estate plan. A proper estate plan will allow a person to reach desired economic, legal, and personal objectives while alive and in death. Here are some important reasons to have an estate plan:

– YOU decide WHO gets your assets and WHEN they get your assets
– YOU authorize someone to make healthcare, end-of-life, and financial decisions for you especially when you cannot
– YOU name a Guardian to take care of your minor children, especially those with special needs
– If you don’t make a plan, your resident State intestate laws will

If for some reason you believe you don’t need an estate plan, I highly recommend that you at least make sure to name a beneficiary on as many of your financial accounts as possible. Just know that any assets that do not have a beneficiary named will go through probate and a judge will have to decide who gets what. If creating a legacy is important to you, speak to one of our licensed financial professionals and ask us to connect you to one of the companies we work with that can help you create a Living Will, Power of Attorneys, Healthcare Directives, and a Trust, if needed:

Want to see if this strategy makes sense for you, talk to one of our licensed financial professionals:

Please feel free to reach out to Chantay Moore directly at:

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