How to prepare for a smooth transition of your assets to your beneficiaries.
Have you heard stories about estates being tied up for long periods of time? How beneficiaries die without receiving inheritances because an estate took months or years to settle? Serious delays can occur when a person dies and has accounts scattered in many places without a complete record of total assets and no beneficiaries listed. Financial planning before you die can solve all that.
Our clients often ask how it works when they die. They want to know their children will not face delays in receiving their share of the estate. We can assure them that their assets will transfer easily and correctly to their loved ones because they have taken the time to pre-plan. Beneficiary designations are listed on retirement accounts, and other investments go directly to the new owner(s) because they are titled in joint tenancy with rights of survivorship, tenants in common, or transfer upon death.
For a large number of people, that is all that is needed. Death certificates come quickly, and prudent financial planning before you die helps your children receive their inheritances within a few weeks. Even estates valued in the millions can pass to beneficiaries quickly and easily through careful attention to the above designations. There is no reason for delays when you work with an investment advisor who understands these points. Don’t complicate your estate without good reason!
For personalized assistance with financial planning before you die, contact our financial advisors for a no-obligation estate planning consultation today.