Don’t be an Aretha Franklin and Neglect your Estate

Fall is in the air and Thanksgiving is around the corner. We use this time of year to remind ourselves to take a look and be thankful for what we have worked for, built and created up to this point in our lifetime. Financially speaking, this accumulation of wealth and valuables is collectively known as your “Estate”. It’s very easy to ignore the implications of transferring your estate and all too many choose to have no plan at all. This is not a good decision.

Value of An Estate Plan

An estate plan allows for an orderly succession and makes sure your wishes are honored after you are gone. This of utmost importance for business owners, blended families, and those with special needs beneficiaries. It is also just generally to protect the wealth and legacy you have worked so hard to build and preserve.

Aretha Franklin’s recent passing is a good reminder that dying without a will is not a good plan. In her death, she joins a rather impressive array of public figures who also failed to plan. We have included a slide show of just some of the personages in that illustrious group. As you scroll through you will likely be in disbelief that someone with fame, fortune and outside advisors could ignore such an important part of their financial plan.

Interesting enough, it isn’t just the famous that fail to plan – 60 percent of U.S. adults don’t have a will according to Caring.com. The result is likely a lengthy and costly probate process to settle the estate.^[1]

Our Recommendations

For those of you that already have an estate plan – this is a good reminder to review and make any changes you have had in mind.
For those of you without an estate plan – let us know if you would like an estate planning checklist to help get you started. Simply reply to this email. We WANT to help you start this process.

We share this with you to bring attention to an important area of your life which may require a nudge to inspire action.

Thank you for allowing us to serve as your guide through the complexities of life. The path to success requires the ongoing exploration of choices among the alternatives for you and your loved ones. We commit ourselves to working alongside you to inspire rational, informed and well-reasoned decision making. The result is a path that defines your success and the joy, significance and meaning of your life. Planning for the transfer of your estate and the significance of your legacy gives us purpose in what we do.

1. https://www.caring.com/articles/wills-survey-2017

Source: MSN

Disclosure

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any company names noted herein are for educational purposes only.

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Financial Planning offered through Reason Financial, a state Registered Investment Advisor. Investment advice offered through Merit Financial Group, LLC an SEC Registered Investment Advisor. Merit Financial Group and Reason Financial are separate entities. Tax related services offered through Reason Tax Group. Reason Tax Group is a separate legal entity and not affiliated with Merit Financial Group, LLC. Sean P. Storck CA Insurance Lic#OF25995 and Steven W. Pollock CA Insurance Lic#OE98073

Don’t be an Aretha Franklin and Neglect your Estate

Value of An Estate Plan

Our Recommendations

Disclosure

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