Jun 17, 2009 were talking about estate planning, something many think is just for rich people but its not. Sample estate planning worksheet for single people. Learn why estate planning is an essential part of good financial planning overall in this free online webinar. Creating a welldesigned, complete estate plan will save your family a. Estate planning, at its core, is the process of answering those questions while youre still alive.
Today, id like to offer you my 101 version to give you a start in this process and help you know what questions you should ask if you see an estate planning attorney. Making a will, planning your estate, powers of attorney and what to do following a death. This planning workbook will not only help you understand what you need to know about estate planning, it can also help you get organized and prepare for meetings with your estate planning attorney. Download the interactive pdf and add it to your financial toolkit pdf 212 kb. Ppt estate planning 101 powerpoint presentation free to. Consult your team of skilled professionals, including your thrivent financial professional, estate planning attorney, tax advisor and trust officer, as you develop or. A checklist to help you take care of your family by making a will, power of attorney, living will, funeral arrangements, and more. Estate planning 101 is happy to share this short video presentation about how caring creates resilience because we want all of our students to live happier and healthier. Estate planning is about more than just creating wills and trusts. We will never share your email address with third parties without your permission. Anyone who has something of value that they hold in their own name has an estate that can be bequeathed or otherwise transferred to someone else upon.
Now that you, or someone you care about, said the vows and enjoyed a relaxing honeymoon, its time to get down to business. Whats more, of all the financial tasks the survey listed. But its important to understand what a will is and what it does and doesnt cover. Everyone should take the following 10 steps to get their legal ducks in a row. Often, this is prior to or shortly after a significant life event, such as marriage, the birth of a child, or the death of a loved one. There are several defense mechanisms that can be added to your will and other estate planning documents to eliminate or minimize this risk.
Creating a set of legal documents that lays out your wishes makes things easier on your family and can help avoid a protracted process of closing out your estate. Sep 22, 2014 christine romans explains how to minimize the tax bill for you and the recipients. Your estate is liable for the legal expenses necessary to defend your will. Understanding the basics of estate planning vanguard. The following checklist download a pdf copy was developed by leading cpa financial planners to help you find personal financial planning opportunities in. Perhaps that is why so few people actually get around to making such plans at all. A will is the most basic estate planning document there isand for some people, it represents the only estate planning they want or need to do. Learn the basics about trusts and how they are used in estate planning. Estate planning, wills and dealing with death canada. Regardless of the size of your estate, having a will in place can help your loved ones easily determine how to distribute your assets. Save, sign, print, and download your document when you are done. The advisers guide to financial and estate planning.
If you have any questions about either, dont hesitate to reach out to me. Mar 08, 2018 unfortunately, confusion and myth abound when it comes to estate planning. If you think it is a possibility that your will may be contested, please let your attorney know. A living trust is a great tax planning tool for avoiding or reducing estate taxes. While this an essential part of creating a comprehensive estate plan, it is not the only important part of your plan. To access the publication, please click on the icon on the task bar at the bottom of the screen. Learn from the merchants bank trust department how you should be preparing your estate plan at every age starting in your 20s. More than just a template, our stepbystep interview process makes it easy to create an estate planning worksheet for single people.
Estate planning 101 you may have attended various estate planning seminars, read articles in the paper or on the internet, or talked with friends or advisors and now you are ready to move forward in developing your estate plan. Learn how a will can help you if youre single, living with a significant other, married, or have kids. Even otherwise financially savvy people seem confused about estate planning. Sep 29, 2015 best of all, estate planning, like financial planning, can help you plan for the stage of life youre in right now. Free estate planning checklist word pdf eforms free fillable. Your first step in estate planning is to write a comprehensive will that moves smoothly through the probate process.
Free estate planning worksheet for single people free to. Estate planning guide important note and disclaimer 2 what is estate planning. If you were to ask 10 adult americans this question, you would likely get 10 different answers. This content includes an option to download the entire publication as a printready pdf. This guide presents an introduction to estate planning so that you can better understand whats involved. From client intake to the final plan moderatorspeaker dana a. Make sure youre aware of current estate taxes that. Sep 18, 2014 forbes takes privacy seriously and is committed to transparency. Click on the pdf link to the right to download your notes packet that includes a brief outline of the topics being covered in the webinaralong with space to take notes during the webinar. What property you wish to leave to family, friends and organizations. Estate planning is a term broadly used to describe a variety of end of life planning issues. It is our hope this booklet will guide you through the basics of estate planning the why, what, and how. The following programs can help you create a will online and. This presentation talks about the basics of estate planning last wills, living wills, durable powers of attorney, revocable living trusts, and healthcare proxies.
Here are answers to some frequently asked questions. Estate planning can be a complex process, but you can make it easier with the support of capable, experienced professionals. When you think about estate planning, you likely think about making provisions for who inherits your assets after you have passed away. From an estate planning perspective, this involves getting your financial affairs in order, establishing a plan for the ultimate distribution of your assets and. Only through a personal, confidential consultation with qualified legal counsel can anyone properly evaluate their own unique estate planning challenges and determine what, if any, appropriate legal strategies and tactics should be implemented to meet those challenges. For each item in the will do column, set yourself a deadline. Download our free estate planning worksheet for creating a secure future. Disclaimer this presentation does not constitute legal, accounting or other professional advice. About the aicpa personal financial planning section. Ppt estate planning basics powerpoint presentation free. Learn how a will can help you if youre single, living. Sep 18, 2017 estate planning 101 estate is a rather grand word when you consider than most everyone, including a minor, has some form of an estate that can be passed on to someone at the time of their death.
The basics of estate planning protect your familys future with smart estate planning an overview of estate planning easy estate planning tools living trusts last will and testament living will and healthcare power of attorney power of attorney. The importance of developing an estate plan introduction at some point, most people will contemplate estate planning. Download crrs resource, estate planning 101 a practical guide to getting your affairs in order, and the benefits of doing it early. That is all well and good, but what exactly is an estate plan. Although there is no federal estate tax in 2010, it will be reinstated in 2011. Someone has probably told you that you need to have an estate plan. There is also the possibility that congress will pass legislation before the end of 2010 to reinstate the federal estate tax retroactively.
A free powerpoint ppt presentation displayed as a flash slide show on id. Check out marguerite lorenz of estate planning 101 talk about estate planning with george chamberlin of the daily transcript. Consider estate planning as the act of a grateful steward honoring the provider of all good things and caring for the people and passions he has placed in our lives and on our hearts. Nov 06, 2019 regardless of the size of your estate, having a will in place can help your loved ones easily determine how to distribute your assets. Estate planning 101 keith thomson is an internationally recognized financial educator, author, and consultant, specializing in estate and charitable tax planning. Find the right estate plan for you a collection of tips to consider when working on an estate plan. Wed also recommend that you read our disclaimers before consuming this information. The advisers guide to financial and estate planning volume 1 of 4. Learn the basics of estate planning, because if you dont plan for the distribution of your assets, the state will take over. Estate planning 101 1 estate planning 101 2 in this presentation we will look at 3 last wills 4 you can state your final wishes regarding the distribution of your assets with a last will 5 when you create your will you should include a choice of executor to administer your estate 6 revocable living trusts 7 an alternative to a last will. The term estate refers to the whole of your assets and debts your house, accounts, possessions, obligations, everything not just your home and estate planning can cover. Jan 09, 2010 estate planning is the topic of countless books and the specialty of lawyers who have made a career out of helping clients navigate some very confusing territory.
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