Posted By ChrissRobertson on February 7, 2012
Every day, CLA Estate Services works with seniors and retirees who have never thought about estate planning. These are some of the many issues that are often addressed by company representatives in CLA estate planning services workshops.
Wills
An up-to-date will is an important part of estate planning. It allows you to specify who should receive your money and possessions after you die. Without a will, those decisions will be made by the courts according to the state laws. Many people put off making a will, or neglect to update it with important information. While a will is important, it is only one part of a complete estate plan.
Durable Powers of Attorney
These legal documents let you appoint someone to make decisions on your behalf if you are unable to make them for yourself. There are two types - one for health-care decisions and one for your personal, financial and legal affairs. Assigning powers of attorney can ease your mind by ensuring that someone you trust has the legal right to make decisions if you can?t, and can make things easier for your family and loved ones by making your wishes known to them.
Net Worth
Many people have no idea how much their estates are worth. One of the first steps in creating an estate is to locate all of your assets and calculate your net worth. CLA estate planning services professionals recommend talking to a tax professional or financial adviser to determine the best ways to minimize estate fees, federal and estate taxes and inheritance taxes.
Communicating Your Wishes
A letter of instruction can let you communicate your wishes with regards to your funeral or memorial service, as well as to provide information about your important papers, assets and financial accounts. The CLA estate planning services packet includes an organizer that helps seniors organize all of this information so that survivors aren?t left to guess.
Trusts
Trusts are a very beneficial planning tool. They allow you to avoid probate (which is required with a will), allow you to avoid guardianship and allow you to stay in ?control? even after you become incapacitated or pass away. There are different types of trusts and variations provisions within a trust that can help position your assets in advantageous ways. Your attorney can help you determine which trust and which provisions will be beneficial in your circumstances.
Surviving Spouse Benefits
Review the survivor benefits provided by your pension plan, military Survivor Benefit Plan or other retirement plans. Likewise, review the beneficiary arrangements and benefits of your IRA and 401(k) plans. Keeping this information up-to-date is vital to ensure proper disbursement.
Organized Records
CLA estate planning services provides an Estate Organizers where you can list important information that your survivors will need after your passing. That information includes account numbers for bank accounts, investment accounts and insurance policies; the location of deeds, car titles, birth and marriage certificates and divorce decrees; and your personal data, including things like your Social Security number, VA claim number and the names and phone numbers of family members. It even allows you to identify the medicine you are taking, the names of your doctors and even your computer passwords.
An organized estate is one of the most loving gifts that you can leave to your family. Your forethought and planning can relieve them that they are making the right decisions, deal with minutiae during their grieving and ensure that your wishes are respected.
CLA Estate Services provides senior estate planning services to coordinate your planning and specializes in providing general information about estate planning. The Frisco, Texas Company has been providing these services for over 13 years, and has an A+ rating with the Better Business Bureau because based on the low number of complaints received about the company and their fast response time to any complaints. Their estate planning workshops are held in cities around the country to provide information about senior estate planning and discuss CLA estate planning services with those who would like to know more about protecting their assets and ensuring that their families are provided for in the future.
Chris Robertson is an author of Majon International, one of the world?s MOST popular internet marketing companies on the web.
Learn more about CLA Estate Planning Services
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