While thinking about legacy planning can be unpleasant because it involves discussions about incapacity or mortality, it's an important aspect of good financial planning that shouldn't be ignored.
With a revocable trust, you are typically both the founder and the trustee. This means that you both create the trust and manage its assets and operations.
Naming secondary beneficiaries can help estate planners avoid the delay and costs of going through probate, as well as ensure that your wishes are carried out.
It isn’t just about wills and funerals—it is a reflection of your values, your goals for healthy aging, and the hopes and dreams you have for those you love.
Heirs receiving an inheritance can expect the process to take time. Having a plan for the money and consulting with professionals are also things to keep in mind.
If your beneficiary designations are out of date and you die without updating those designations, your assets could go the wrong people–a former spouse, for example–no matter what your will says.
