Wills, trusts, POAs and directives: What’s the difference?”
We have addressed some estate planning basics many times in this space…we thought a recent Raymond James “For What It’s Worth” podcast was worth sharing and bringing it up again.
Our podcast series is worth subscribing to…the episodes are brief and informative. You can subscribe/follow on Apple Podcasts or Spotify.
The below linked episode discusses the difference between some of these powerful documents and shares which ones should be established as early as age 18.
Estate planning is a critical component of wealth management and financial planning. As you transition through the various stages of life, your financial and personal situation will likely change.
The third and final link below is to a one-pager which offers a written summary and explanation of the essential estate planning documents you should have in place and should periodically update.
A 2023 study by Caring.com found that:
- 1 out of 4 Americans without a will say nothing would motivate them to get one, and more than 40% say they won’t bother until their life is in danger.
- 2 out of 3 Americans do not have any type of estate planning document.
We discuss these items at least annually with our clients and remind and help them to take action as needed. As such, we know that for most of our clients, this is just another friendly reminder but this is also an opportunity for you to share this valuable information with your adult family and friends in easily digestible formats they can reference.
We are here as a resource and happy to help should you or they have any follow-up questions.
For What It's Worth - Apple Podcasts
Explaining core estate planning documents
- Gary Weiss, October 2023
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