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Woody & Gerry's 11 Estate Planning Tips That Apply To Everyone (no matter how large or small your net worth)


1. Make a complete and accurate inventory of all assets and their values.

2. Determine the form of ownership of each asset; understand its effect on the transfer of property at death.

3. Verify beneficiary designations on life insurance policies and retirement accounts.

4. Estimate the size of the estate to determine whether estate tax planning is needed.

5. Decide whether certain family members or assets need special protection (minor children, those with special needs, family business).

6. Select beneficiaries and determine what provisions should be made for each.

7. Determine how financial and health care decisions will be made in case of illness or disability (a health care directive document).

8. Determine how health care will be funded (long term care policy, yes or no, and if yes, which one and how much?)

9. Estimate the cost of alternative estate planning methods that will meet the goals.

10. Select and implement the estate plan.

11. Law and family circumstances change.  Review plan regularly.  Our CPA Wealth Advisors do this with our clients.  Wealth management and investing is much more than just how well your stocks are performing.  Is your wealth manager doing this or even qualified to do this?  Our CPA Wealth Advisors are.

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 IMPORTANT DISCLOSURES Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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