- Beneficiary Designations – All insurance policies need to have correct and up-to- date information since these documents can supersede a will.
- Health Care Directive/Power of Attorney – This document gives the person you designate the power to decide your health care situation if you are unable to do so.
- Trust – This document sets forth the directives for who controls your estate upon your death. A trust ensures your request are carried out which can avoid disputes from family members and reduce tax liability.
- Will – The purpose of this document is to distribute property and assets as per your wishes, along with designating an executor to manage your estate.
In addition to the documents above, having life insurance is important to help your family with cost after you are gone. Funerals and other obligations after someone passes can be costly and put family members in a financial bind. If you are not properly planning for the future and the cost that will be incurred upon your passing, you may be putting your family in a very tough financial position.
These are just a few of the items a person needs to think about and consider when planning for the future and leaving a legacy for your family. Assurance Tax & Accounting Group has the financial professionals available to help assist you in meeting all your financial goals. If you would like the Leaving A Legacy document, click here. When you are ready for us to help you plan for your financial future get in touch by emailing us or calling us at (225) 757-5518.