RetireNet.com

The Retirement Net Premier retirement living featuring retirement communities and retirement homes in planned active developments. Worldwide resource for active retirement senior communities, rv/resort homes, vacation homes and assisted living facilities. The Retirement Net is the most comprehensive resource of premier retirement communities throughout the world featuring site built homes, manufactured homes, assisted living facilities, planned active retirement communities and various retirement properties worldwide. See also: senior housing, retirement communities, retirement living, elder care network.

Welcome, Guest!   Sign InSign Up

Search by Location & Lifestyle...

Search

Or use our Advanced Search for either Communities or Homes

Search for listings in CanadaGo to Saved Searches

Not a member yet? Sign up today!

Sign Up Sign Up

Find out more about the benefits of becoming a RetireNet.com member!

Estate Planning Is For Everyone

Add Article To Favorites Add to Favorites   Share  Recommend 0 Recommendations

Remember the only two things that are inevitable? Plan for them.

Posted February 6, 2012



When you hear the term, “estate planning,” it’s quite possible that the first thing that pops into your mind is that “only rich people do this.” Well, you’re wrong: estate planning is for everyone. It doesn’t matter who you are, or what you do, or if you’re young or old—you should still start estate planning, and it’s extremely important.

Don’t believe me? Let’s define estate planning. Estate planning is actually much simpler than you think. It typically attempts to eliminate uncertainties over the administration of probate, and maximize the value of your estate by reducing taxes and other expenses. Most importantly, guardians are often designated for minor children and beneficiaries in incapacity.

One thing we know about life is that nothing is certain, and to be sure that everything is in place when you are gone is very important. You’ve worked hard not only for yourself, but also for your loved ones. Providing them the most comfortable life is the most important action you can take, right now.

You don’t have to be wealthy to do the right thing and make decisions around your money, properties and assets. Estate planning ensures that each person you choose will get what he or she deserves with far less hardship, expenses and taxes.

Here’s a quick list of the benefits that estate planning provides.

Are you surprised with all the benefits that you can get through estate planning? Don’t be afraid to get started. It might look hard on the surface, but you’ll soon get the hang of it. You need to learn about having a will or a living trust. If you have children and assets, it’s important for you to have this in place to ensure that your assets are in the right hands and to ensure the future of your children. You will also learn how to choose an executor: someone you can trust, even after your death, because this is not an easy task. This person will settle all your concerns.

Estate planning will also help you decide what to do with all your investments and bank accounts. You have to be sure that all the details are up-to-date, and that you’ve chosen a beneficiary. You can also learn about trusts: what the different types are, and which you can use in some situations. If you are a charitable person, you should learn how leave donations for the foundation of your choice.

You will get an idea of how to deal with your specific assets. You need to learn about probate. When you have a will, this will be settled and discussed in probate court. This means the money used to cover those court costs will come from your will. It’s better to be aware of this so you can do something about it ahead of time.

You can also start thinking of your legacy or what you want your family to remember about you. You can make a scrapbook, a book of your life or movies so that the next generations can also have the chance to meet you. A good place to start is with my book Ready for PREtirement.

Kris Miller, chFEBS, CSA, LDA, feels a special commitment to helping those in need build their wealth and protect their hard-earned assets from catastrophic illness and long-term care. Since 1991, Kris has joyfully served hundreds of individuals and families, tailoring long-term, personalized financial plans for them that carefully preserve their principal and maximize returns. She has educated thousands on the importance of planning for their legacy through her workshops and courses. Kris has been recognized for her work with the senior community in her hometown of Hemet, CA. She is a member of the prestigious National Speakers Association and a practiced presenter to a multitude of audiences. The author of PREtirement Planning Essential, Kris Miller is truly the “Money Maestro.”

 

Comments (0)

Add A Comment

Want to leave a comment? Sign in.

 
America's Top 100 Best Master-Planned Communities

My Saved Searches

Sign In or Create your free account to see your saved searches.