When it comes to estate planning, the most familiar document is the last will and testament. Most people have a basic understanding that a will allows you to appoint a personal representative (an executor) upon your death and directs that person to distribute your assets as you specify.
You spend a lot of time trying to make life easier for your family. You care for them and try to protect them from trouble and pain. You know that no one lives on this earth forever. You know how difficult it is to deal with the death of a loved one and don’t want your family members struggling to wrap up your affairs. You wish there was a way to look out for them after you are gone.
It’s that time of year again. Yes, it is New Year’s resolution time. Was making a will one of your unfulfilled resolutions from past years? Is it on your “to-do” list for 2020? The good news is that with a modest investment of time and effort, you will be able to check this off your list in just a couple of weeks and you won’t even have to go to the gym to get it done!
In the middle of a Georgia summer, the days are long and it seems like we’ve got more time for the things we enjoy. The kids are out of school, and work slows down a little. If we’re lucky, we get some extra time with our family, spend lazy days at the pool, and vacation with children and grandchildren. It can feel like summer will last forever.
To begin planning your estate is to think through the intricacies of your life, to think about your values and your family. But there is nitty-gritty you might be overlooking: the financial, the legal, and the shared understandings. Make time to consider what you might be over-looking before planning in earnest.
Many accounts, like retirement and investment accounts, allow you to designate the beneficiaries of the account upon your death. It’s a convenient way to distribute these accounts, and typically you make the selection when you open the account.
When it comes to estate planning, the most familiar document is the last will and testament. Most people have a basic understanding that a will allows you to appoint a personal representative (an executor) upon your death and directs that person to distribute your assets as you specify. Put another way, a will says who gets your stuff when you die—but until you die, it does nothing.
You spend a lot of time trying to make life easier for your family. You care for them and try to protect them from trouble and pain. You know that no one lives on this earth forever. You know how difficult it is to deal with the death of a loved one and don’t want your family members struggling to wrap up your affairs. You wish there was a way to look out for them after you are gone.
It’s that time of year again. Yes, it is New Year’s resolution time. Was making a will one of your unfulfilled resolutions from past years? Is it on your “to-do” list for 2019? The good news is that with a modest investment of time and effort, you will be able to check this off your list in just a couple of weeks and you won’t even have to go to the gym to get it done!
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