To get the full RFL experience, watch the episode here at https://youtu.be/TB_Q8ENgWCg
We discuss the essentials of estate planning and why so many retirees don't have their documents properly organized. Through our game "Will You or Won't You," we explore common misconceptions and critical components of securing your legacy.
• Debunking the myth that the state takes your assets without a will – assets go through probate court instead
• Understanding which assets bypass your will (401ks, IRAs, life insurance)
• Why naming minor children as direct beneficiaries isn't recommended
• The critical differences between wills and trusts
• The importance of having power of attorney documents for both medical and financial decisions
• How gifting during your lifetime can be part of your legacy planning
• Estate planning as an integral part of comprehensive retirement preparation
• Why reviewing and updating your documents regularly is essential
Make sure your estate planning documents are current and accessible. Even if you think you have everything in order, take time to verify where documents are stored and that they still reflect your wishes.
We love hearing from you!! Record your retirement questions anytime at www.RetirementForLife.com
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