A solid estate plan should not only provide for your assets after you pass, but also plan for your long-term care while you're alive. With the median cost of a long-term care facility approaching $8,000 per month, paying for long-term care has the ability to impact just about every nest egg.
Some may fastidiously plan the path they want their assets to take but not give their beneficiary information the attention it needs and deserves. Designating the appropriate beneficiaries is essential for proper asset planning.
Putting together an estate plan can feel overwhelming, but it's an integral part of seeing your final wishes through. Take time to sort through each of these items with your financial advisor to help keep your estate and your loved ones well-organized and prepared.
If you've amassed a significant amount of wealth, you want to know it'll be cared for by future generations. Here's how to help your loved ones become responsible stewards of your wealth.