Charisse MacKenzie, AIF®’s Post

What do Aretha Franklin, Sonny Bono and Jimi Hendrix have in common? They died without a formal will or estate plan in place. The result? Years of pain and legal drama that could have been avoided. Read our latest report to learn how you can avoid similar mistakes.

What do Aretha Franklin, Sonny Bono and Jimi Hendrix have in common? They died without a formal will or estate plan in place. The result? Years of pain and legal drama that could have been avoided. Read our latest report to learn how you can avoid similar mistakes.

What do Aretha Franklin, Sonny Bono and Jimi Hendrix have in common? They died without a formal will or estate plan in place. The result? Years of pain and legal drama that could have been avoided. Read our latest report to learn how you can avoid similar mistakes.

We recommend you proactively review these beneficiaries at least every few years. This step will avoid unintended bequests of your hard-earned assets, and possibly prevent significant personal conflicts and legal battles for your heirs.

It is quite common to take super benefits out before death to avoid the “death tax” on death benefits paid to non-death benefit dependents. However, the consequence of such action is that the amounts paid out will form part of the deceased’s estate. That may in turn, like in this case, result in unintended circumstances under the deceased’s estate planning. It is therefore important that potential payment of super benefits before death be considered in the estate planning of a member.

Contemplating your death may not be a top priority, but ensuring your loved ones are taken care of should be. Did you know that 44% of individuals who do not have a Last Will attribute it to procrastination? Without estate planning documents, your family could face challenges during a catastrophic event. Without a Last Will or Trust, state intestacy laws come into play, leaving decisions on assets and guardianship to the Court. Having these documents in place can greatly ease the stress on your loved ones during difficult times. #EstatePlanning #LastWill #LegacyPlanning

Having an estate plan in place is paramount to having a successful retirement. The last thing your family wants to deal with during an already hard time is a financial burden. Not having the proper estate planning documents in place can put your loved ones in a difficult situation. Probate courts may determine who gets what in a process that can be lengthy, costly, and stressful for family members and loved ones. Let’s talk. https://cnb.cx/3yC2kXS

August is National Make-a-Will Month! Yes, it’s corny, but it’s a good reminder to get your stuff together and be sure that you and your clients have up-to-date succession documents in place. What are some of the worst cases we’ve seen of someone passing away without a will? The business owner who left behind a surviving spouse and minor children, only to have most assets – including the business – pass in equal shares to the spouse and minor children, with a guardian ad litem and court-appointed conservator for the children with mandatory reporting to the court for the next decade. Or the young man who passed unexpectedly and had half of his estate pass to his estranged father. And even if you have a will, be sure that it’s up to date, and that you haven’t named your former business partner or your former bank as trustee. Of course, while making a will is important, proper estate planning extends well beyond the will. Durable powers of attorney, advance directives for health care, and in some cases, revocable trusts should also be part of the planning. Don’t let this month go by without taking a moment to see if you’re prepared in this area.

With retirement on the horizon and your children starting families of their own, you want to ensure that your loved ones are taken care of no matter what the future holds. Take charge of your legacy by working with an estate planning attorney to create a comprehensive plan. From drafting a will to establishing trusts for your children's inheritance, leave nothing to chance. Ready to write your own story? Schedule a consultation today. ✍️📜 #EstatePlanningJourney #FuturePreparedness

With retirement on the horizon and your children starting families of their own, you want to ensure that your loved ones are taken care of no matter what the future holds. Take charge of your legacy by working with an estate planning attorney to create a comprehensive plan. From drafting a will to establishing trusts for your children's inheritance, leave nothing to chance. Ready to write your own story? Schedule a consultation today. ✍️📜 #EstatePlanningJourney #FuturePreparedness