The recent decline in asset values may make gifting a more attractive estate planning technique for many individuals, especially if you are considering gifts of stock or other non-cash assets.
Does your ability to pass on your wealth to your heirs depend on where you live … and die? Indeed, it does.
If you are quarantined or under a lockdown and can’t get to a notary, how can you get your will, trust and other documents executed? Don’t give up. There are ways to get it done without leaving home.
Life insurance may play a vital role in an estate plan, because insurance proceeds can be counted on to provide liquidity when it’s needed.
Maintaining a valid and current estate plan is vitally necessary in order to ensure the efficient and orderly dispersion of assets after a person dies. However, even a small mistake can create huge problems during the settlement process, and in many cases, these errors are impossible for anyone to correct.
No matter what line of work you are in, estate planning has facets that apply to everyone, and it comes down to documenting wishes and avoiding probate and unnecessary taxes. Too many people put it off, but, in general, the sooner you do it, the better.
