5 Things to Help You Get Started on Legacy and Estate Planning Epstein & White

Do you have a plan for what will happen to your assets when you pass away? This may be something that you should be working into your overall financial plan. Without a specific estate plan and legacy plan, you won’t know what is going to happen to your money after you are gone.

1. Think about the good you can do

It’s hard to think about wills and estates. No one wants to think about what life will be like without them. But here’s one thing that can help you get started and motivate you to design an estate plan: consider all the good you can do for the people who matter to you. In the right circumstances, a well-designed estate plan can really make a difference to family, friends, and the world.

2. Consider who you want to support

One important element of legacy planning is considering who you want to support and how you want to support them. Depending on your financial situation, this may just be loved ones, or it may be some combination of charitable organizations and loved ones.

3. Consider a trustee

A trustee is in charge of distributing your wealth according to your wishes. This can be a family member or a third-party professional.[1] It’s an important job, and you should be thoughtful when deciding who does it.

4. Talk with your family

This is a very important step. Communication is very important when it comes to estate planning. It may help your family members to know what is going to happen with your finances when you pass away, and they may have input for you to consider as well.

5. Consider a financial advisor

A lot goes into a well-designed estate plan. And our advisors can help you to build a plan that is in line with your wishes. A great first step to designing a legacy plan can be to reach out to an advisor. They can guide you through the steps and help take some of the burden off of you when it comes to designing the plan. It isn’t something you have to try to struggle through by yourself!

Estate planning can be for everyone! If you are looking for help designing your estate plan, consider reaching out to one of our financial professionals today for a complimentary review of your finances.

 

 

This information is provided as general information and is not intended to be specific financial guidance.  Before you make any decisions regarding your personal financial situation, you should consult a financial or tax professional to discuss your individual circumstances and objectives.
Epstein & White is a tradename. All services provided by Epstein & White investment professionals are provided in their individual capacities as investment adviser representatives of Mercer Global Advisors Inc. (“Mercer Advisors”), an SEC registered investment adviser principally located in Denver, Colorado, with various branch offices throughout the United States doing business under different tradenames, including Epstein & White. Information contained herein is for informational and illustrative purposes only and general in nature. It should not be considered investment advice or a recommendation to buy or sell any type of securities or insurance products and no investment decision should be made based solely on any information provided herein. Investing involves risk, including the possible loss of principal. Diversification and asset allocation does not ensure a profit or guarantee against loss. We provide this information with the understanding that we are not engaged in rendering legal, accounting, or tax services. We recommend that all investors seek out the services of competent professionals in any of the aforementioned areas.