Estate planning was once a buzz phrase reserved only for the wealthy. However, today many people are beginning to realize that estate planning is important for everyone. Anyone who has assets, no matter how small or wants their medical wishes carried out should have an estate plan. If you have no easily identifiable heirs, the lack of a proper estate plan and/or will could result in all your property ending up in the hands of the government rather than in the hands of those you designate. Your life insurance policy may clearly assign the beneficiaries of that money, but it does not account for the other assets you may have, including cash, your home, real estate, car, bank accounts, valuable collections and other belongings. Without a proper estate plan you could be kept on life support indefinitely, or be forced to endure painful life saving procedures that would only serve to prolong a debilitating terminal illness. Some find the idea of estate planning morbid or negative and prefer to ignore it rather than think about it, but this is simply avoidance of the facts of life. Others take a "lets just get it over with" approach to estate planning; this is also not recommended because errors could be made when creating a "rushed" plan.
It is wise to put a well thought out estate plan in place that you feel confident about, put it aside, and get about the business of living and enjoying your life. It will give you peace of mind to know that when the time comes your assets will be distributed as you desire and your medical wishes will be carried out in accordance with your beliefs. Creating a simple estate plan is much easier than you think and can be done in a relatively short period of time, if you know how. This course will teach you how. You will be given information on particulars of estate planning such as how-to properly plan for the future distribution of your assets, how-to establish a power of attorney, create a Will in Testament and prepare a Living Will. This course will also cover trust funds, how best to incorporate charitable giving into your plan and how-to take proper inventory of the assets you have now. Lastly, there is a lesson for singles and their special requirements.
Making full use of this course, in its entirety, is the first step in setting your future affairs in place so that you may fully focus on enjoying your life to the fullest.
In this course, we will cover the following steps of the Estate Planning Process:
Deciding on the means of transferring your assets
Executing your Estate Plan
Reviewing your Estate Plan
Crypto Inheritance & Business Plans
Under the Means of Estate Transfer, we will discuss:
Transfers before death
Transfers through the probate process
Transfers through Will substitutes
We will also discuss concepts such as:
Rules of Survivorship
Nomination Of Insurance Nominees
Expenses incurred in an Estate Transfer
Lasting Power Of Attorney (LPA)
There are also Case Studies to help you understanding the concepts of:
Net Estate value
Disbursement of moneys
Concerns about death and losing mental capacity