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REALTOR® Emeritus |  | ESTATE PLANNING | | ||
|  Are You Ready to Retire? Retirement Budgeting Sources of Retirement Income Tax-Deferred Savings Vehicles Estate Planning Selling Your Business Getting Your Business Ready for Sale Working With a Business Broker Closing-Your-Business Sale More Resources: Retirement Planning | Just as a successful retirement takes early planning, passing on assets to your family should be thought through ahead of time. 4 Reasons to Have an Estate Plan 1. Providing guidance on how to handle your assets should be handled if you are incapacitated. If you don’t have a will, the government will decide how to distribute your assets. 2. Preplanning may help to lower the taxes on your estate. TIP: Currently, estates of up to $1 million are exempt from federal estate taxes. Having your estate well organized and your records in order can ease the burden on your family after your death. Estate Record Keeping Although each person’s needs are different, here is some basic information you should keep available and in good order.
TIP: Keep originals of all legal documents in your safe deposit box; keep copies at home.
Adapted from Estate Planning Guide, Cynthia Leach, Deloitte & Touche The Benefits of Trusts > |