You’ve worked and planned your entire life to build a nest egg, but occasionally your plan might not play out as you’ve hoped. Life happens, situations change, and sometimes an illness or accident can change your plan. While you cannot predict the future, you can anticipate the unexpected, and you can prepare your spouse or beneficiaries to be in the best position possible to make educated and timely decisions in the event you cannot make them for yourself.
We can help guide you to establish goals for the ultimate disposition of your wealth. Often, the spouse is the first beneficiary of the wealth. After that, children, grandchildren, and charities are the usual recipients of the wealth. You need to decide who will benefit from your estate, the order in which they will benefit, and the amount or percentage of your wealth they should receive.
Legacy planning allows you to make decisions prior to your death or incapacitation. Planning ahead will ensure your desires are honored, and will make the process as seamless as possible for your spouse or other beneficiaries during a time that is often already difficult and stressful. We suggest having the above documents and data gathered, updated at least annually, and kept in a secure location in which your Financial Advisor and/or spouse are aware of.