ESTATE STRATEGIES: THEY’RE NOT JUST FOR THE ELDERLY
- You need a will.You may ask why a will is important if there’s not much to pass on. A will is not just about transferring assets. It can be used to accomplish other tasks, such as who should manage your social media accounts once you’re gone, or inherit items you’ve accumulated, like collectibles or your car.
- Don’t burden others with burial expenses.Funerals can be expensive and if you don’t have the savings to meet those costs, that burden gets shifted to others.
- Consider a medical directive.This important document states your wishes for end-of-life care. In the case of an unfortunate accident, a medical directive provides instructions about the level of care you want, e.g., palliative care only.
- Create a durable power of attorney for health care.In the event that you are unable to make medical decisions for yourself, this gives the individual of your choice the legal power to act as a health-care proxy for you.
- The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation.
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2016 FMG Suite.