When most people hear the words "estate planning" they usually think that wealthy individuals are the only ones who need it. But they couldn't be more wrong. Regardless of how much money you have, you need to think about what will happen to your assets and who should receive the things you own after you pass away.
An estate plan can be as simple as having a will and naming a beneficiary for your 401(k), or as complicated as having several trusts for different purposes in addition to your will. Let's explore why you need to think about having an estate plan regardless of the value of your assets.
For basic information on estate planning, read Getting Started On Your Estate Plan.
For more estate planning dos and don'ts, read Six Estate Planning Must-Haves and Top 7 Estate Planning Mistakes.
Estate Planning: Estate Planning Basics
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