As a financial advisor, one of my most important recommendations to my clients is to review and update their beneficiary designations regularly. Life changes and your estate plan should evolve to reflect your current wishes and circumstances. Failing to update beneficiaries on retirement accounts, insurance policies, and wills can lead to unintended consequences, potentially leaving your loved ones in a difficult situation.
What are the Critical Estate Planning Documents for Every Dental Practice Owner? | Ep. 5
In today's video, Certified Financial Planner™ Ed Leach delves into a crucial yet often overlooked aspect of estate planning for dental practice owners. For both your personal and business life, ensuring the correct legal documents are in place with updated beneficiaries is essential. This video will provide a quick overview of all the estate planning documents and their purpose for your financial health.
How Can C.O.W. Help Your Estate Plan?
Updating estate documents is crucial because it ensures that your wishes are accurately reflected and legally honored as your life circumstances change. Imagine the birth of a new child, a marriage, a divorce, or the windfall of significant assets. These events can dramatically alter your intentions regarding who should inherit your belongings and how it's managed.
Do you have these Important Estate Planning Documents?
Keeping the Marital Home Vs. Renting After a Divorce
For many people going through a divorce, a common decision that needs to be made is whether to keep the marital home. At first glance, the person considering remaining in the home may feel like the monthly cost is lower than renting. However, divorcees need to complete a careful analysis to ensure all costs of homeownership are factored in.
Estate Planning: Assigning Control of Your Financial and Healthcare Decisions
Anyone who has watched the Britney Spears conservatorship saga unfold in the news recently can appreciate how distressing it is when a person loses control of their financial life. Britney's situation highlights the importance of proper planning and the downside of having a court decide who is best to act as someone's caretaker.