Article Contributed on: 4/26/2009 4:08:37 PM
There may come a point which your Estate has grown over the years, with Real Estate concerns, gifting to family members, investment concerns, etc. which if not planned correctly, can transfer a burden to your heirs. Part IV of this series gives you a direction to take to be sure your Estate is properly taken care of.
Do you want to give anything to charity?
How do you wish to be remembered?
Has your will and trust been updated or reviewed recently?
Will your estate have sufficient liquidity to pay all costs?
Do you have any special bequests for grandchildren?
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Consider this:
Insurance - Review liquidity for transfer tax, Review long-term-care needs, Provide for supplemental health coverage.
Investment - Review investment strategy and asset allocation for new risk tolerance?
Retirement - Set up retirement income distribution plan, Covert excess retirement income to transferable assets.
Estate - Implement business-transfer plan, Implement gifting program, Review advanced estate planning, Implement charitable planning.
This is part 4 of a 4 part blog talking about Estate Planning. In light of our new Administration, changing tax laws, and how these will affect your family, it is more important now than ever to make sure your taking the right steps in designing your Estate Plan.
If you would like more information, do not hesitate to contact Matt Benore, DenverWest Insurance Professionals at 303-425-4466, x225 or email at
mattb@benefitsblvd.com.
www.denverwestip.info