There are a ton of moving parts when it comes to your financial life. Life insurance, retirement and investable assets, and even your checking account – it’s a lot to think about. And because of the complexity of these assets, most people don’t them much thought. It’s easier to ignore the big picture and focus on each individual piece as if it were separate.
But that can actually be a problem.
And it’s a big problem when it comes to the end of our lives. An estate plan may seem like something for the super rich and high-net-worth families, but the financial complexity of the average person’s life means it’s necessary for everyone.
Be sure to check out our life insurance and annuities section to learn more about these forms of investments.
Estate Planning 101
What happens to my assets and my loved ones when I die? It’s a question that most American’s don’t really want to answer. But it’s a vital one, and an estate plan helps determine the solution. The rub is that most Americans think they are covered by simply having a will, and that estate planning is something reserved for blue-bloods and the Rockefellers of the world with millions of dollars’ worth of assets. But nothing could be further from the truth.