Spring 2013 Estate Planning Update

Spring Cleaning is a great time to clean up your estate plan! Here are a few tips to consider in reviewing your plan:

  • Five Year Rule: Has it been more than 5 years since you’ve reviewed your will, powers of attorney and trust? If so, it is time to crack that binder open and review whether any changes need to be made.
  • Beneficiary Forms: Along with your wills and trusts, it is essential to review all of your beneficiary designation forms for any policies and accounts. Typically, these include IRA’s, annuities, life insurance and other financial accounts.
  • Life Insurance: Life insurance can be a great tool for estate planning. It potentially provides asset protection, tax free wealth transfer, a death benefit, and perhaps cash value. Also, certain life insurance policies can include long-term care coverage! Consider life insurance solutions with our firm. Contact us today to learn more.