Your Money & Your Life Podcast
Business:Investing
As we move towards the end of the year, we’re looking over checklists for items that need some attention, and while it’s not specific year-end planning, now is a great time to address your estate plan.
The fact is only 33% of Americans have an estate plan and only 43% have a will. Those numbers might be shocking, but the reality is many people just aren’t giving this critical piece of planning enough attention. So as you get things in order for the end of the year, let’s spend some time talking about why you need an estate plan.
Here’s some of what we discuss in this episode:
Probate -
https://trustandwill.com/learn/types-of-non-probate-assets
Last Will and Testament –
https://www.investopedia.com/terms/l/last-will-and-testament.asp
Living Will and Power of Attorney
https://www.mchughandmacri.com/blog/2017/02/the-difference-between-a-living-will-and-power-of-attorney/
Percentage of Americans without Estate Plan
https://www.aarp.org/money/investing/info-2017/half-of-adults-do-not-have-wills.html
https://www.cnbc.com/2022/04/11/67percent-of-americans-have-no-estate-plan-heres-how-to-get-started-on-one.html
Spouse disinherited by accident
https://nypost.com/2005/01/31/pension-pickle-broke-widower-loses-1m-to-in-law/
Wall Street Journal Article – Estate Planning -
https://www.wsj.com/personal-finance/estate-planning-will-money-family-heirs-8f2eb6e8?st=tyfkq2ei0nprc1z&reflink=desktopwebshare_permalink
Get in touch with Don and learn more: https://doncashpodcast.com/
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