Page 87 - Workbook3E

Create your own retirement plan
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2) Establish a legal will with clear and binding instructions so your estate is distributed properly, and your other wishes are carried out. Writing a will may seem hard, but it’s a necessary process to help define just what you want to accomplish now, during your retirement, and after your death.
One of the best things you can do is consult a professional about your unique personal situation in life.
Who Can Help You with Estate Planning?
The Team Approach is the best method of estate planning. Your team could consist of any or all of the following advisors:
Lawyer—Can prepare all the necessary documents and see they’re properly signed, witnessed, and carried out.
Tax Accountant—Can help you identify your assets and minimize your estate tax liabilities by providing information on tax breaks after retirement.
Banker—Helps you with overall financial advice and in setting up trust arrangements.
Insurance Agent—Can help you with your life and health insurance, and your liability, homeowner, automobile, and personal property insurance needs.
Financial Planner—May be able to advise you on all aspects of your estate: taxes, investments, insurance, trusts, etc.
List the names, addresses, and phone numbers of everyone on your estate planning team:
Lawyer
Tax Accountant Banker
Insurance Agent(s) Financial Planner
Now you can easily contact the members of your estate planning team and properly plan your estate.
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