What is estate planning?

You may not realize it, but you have an estate. It is comprised of everything you own – vehicles, real estate, bank accounts, insurance policies, furniture and even personal possessions. It doesn’t matter if you have a little or a lot; you need to have a plan in place for what will happen when you’re gone.

ESTATE PLANNING IS FOR EVERYONE
This isn’t just for older, retired individuals, although estate planning is more often thought about as we age. Unfortunately, you can’t predict the future, but you can be prepared for the unexpected. And remember, everyone has an estate so it isn’t just for the wealthy. Good estate planning often means more to families with modest assets because they can afford to lose the least.

DON’T PUT IT OFF
People put off estate planning because they believe that they don’t own enough, they’re not old enough, they’re too busy, think they have plenty of time, are confused and don’t know where to go for help or simply don’t want to think about it. Life is unpredictable, so make some time and start planning in advance.

ESTATE PLAN ELEMENTS
An estate plan can include several elements such as:

Will | A legal document used to name one or more persons to manage and distribute belongings after death.
Power of attorney | Individual authorized to manage financial affairs if you are unable.
Living will | Statement of your wishes for medical intervention, if wanted, in the event of terminal illness or inability to communicate.
Healthcare proxy | Individual authorized to make medical decisions on your behalf.

FINANCIAL CONFIDENCE
Knowing that you have a plan in place will give you and your family peace of mind. Providing guidance, instructions and access to essential information is one of the most thoughtful and considerate things you can do for yourself and your loved ones during a difficult time.

To help get you started, TruStone Financial Investment Services is hosting free estate planning seminars to provide you with the information you need.

TUESDAY, APRIL 26 – 10AM
Best Western Plus Capitol Ridge Hotel
161 St. Anthony Avenue, St. Paul, MN 55103

THURSDAY, APRIL 28 – 10AM
Maple Grove Community Center
12951 Weaver Lake Road, Maple Grove, MN 55369

TUESDAY, MAY 3 – 6:30PM
Brookview Community Center
200 Brookview Parkway, Golden Valley, MN 55426

THURSDAY, MAY 5 – 10AM
Roseville Radisson Hotel
2540 Cleveland Avenue N, Roseville, MN 55113

To reserve your seat, call 612.756.7275 or email kat@mullenguttman.com.

Refreshments will be served. Attendees are entitled to a no cost consultation to discuss current estate planning needs and goals. TruStone Financial does not provide specific tax or legal advice.

 

Editor’s note: Segments of this article were taken from money.cnn.com and estateplanning.com.

Mullen & Guttman, TruStone Financial and LPL Financial are separate entities. Securities offered through LPL Financial, member FINRA/SIPC. Insurance Products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured TruStone Financial deposits and are not NCUA insured. These products are not obligations of TruStone Financial and are not endorsed, recommended or guaranteed by TruStone Financial or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible. Tax and legal advice not provided.

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