It can be difficult to think about your own passing, let alone consider how your assets will be handled upon your death. Yet, we all have an expiration date, and utilizing estate planning services can ensure that your wishes are fulfilled should you become incapacitated or pass away.
Legacy planning comprises a number of different factors. While the aspects of setting up a will or setting up estate plan documents typically are performed by an experienced legal professional, financial advisors play a role in ensuring that all of your documents and assets align properly with your wishes.
Financial planners can review all of your assets, including investment accounts, insurance plans, and retirement accounts, to make sure they align with your estate plan.
This analysis involves keeping a close eye on your named beneficiaries for all of these financial assets so that they remain current. If a beneficiary passes away or you wish to make changes to your estate plan, the financial planner can help you to ensure your documents are properly updated.