Your financial goals

Your financial goals: Estate planning

This is the Third course in a series of  7 called ” Your financial goals”

It’s never too early to begin thinking about your legacy or to shape your estate plan. Contrary to what many people think, you don’t need to be a millionaire to have an estate plan. An estate plan is an important part of any ongoing financial planning process.

Your life, your dreams, your legacy

Your legacy transcends money — it also encompasses your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support another cause close to your heart. This might be your favorite charity, your community, or your place of worship, to name a few.

Elements of an estate plan
  • A will lets you specify your wishes, including how you want your property distributed, who will administer your estate and who will care for your minor children.
  • A trust holds your assets for the benefit of one or more people (you, your spouse, your children). You’ll need an attorney’s assistance to create a trust.
  • Life insurance proceeds are paid to a beneficiary at your death.
  • Gifts are transfers of property made during your life to family, friends or charity.
  • Tax exclusions are available as important estate planning tools. Consult your tax professional for details.
Preparing to plan your estate

Designing a legacy consistent with your dreams and values is a personal, often complex process. But it’s well worth the effort. Consider setting up a family estate planning meeting to help improve communication, prevent conflicts and let your family know what’s important to you.

After giving some thought to your wishes, including the needs of family members you want to provide for, seek the professional guidance and estate planning advice you need from your attorney, tax professional and financial advisor. To help you value your estate, you’ll need to take into consideration:

  • Current income and likely future income
  • Annual expenses
  • Current assets and debts
  • Tax implications of federal transfer taxes, state death taxes and federal income taxes

Message for you(Trader/Investor): Google has the answers to most all of your questions, after exploring Google if you still have thoughts or questions my Email is open 24/7. Each week you will receive your Course Materials. You can print it and highlight for your life Goal.

Your financial goals ( 7 Days – Comprehensive Course)

  1. College education
  2. Business ownership
  3. Investment planning
  4. Estate planning
  5. Insurance
  6. Long-term health care
  7. Charitable giving

This Completes the List of Courses.

Wishing you a wonderful learning experience and the continued desire to grow your knowledge. Education is an essential part of living wisely and the Experiences of life, I hope you make it fun.

Learning how to profit in the Stock Market requires time and unfortunately mistakes which are called losses. Why not be profitable while you are learning?

Previous ArticleNext Article

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *