A Financial Advisor's Guide to Navigating Different Types of Wills
Advisors should understand why most Americans do not have even the most basic estate plan in place. Advisors should also pay attention to the validity of wills for those people who do have a will or are engaged in the estate planning process. Read more to learn about how will contests are surprisingly common, and nontraditional wills such as handwritten and oral wills, as well as do-it-yourself wills prepared without an attorney, may be less likely to meet legal requirements.
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Debunking Common Misconceptions About Wills
One of the most common reasons clients think they do not need a will is that they do not have enough assets. High-net-worth clients tend to be more proactiveabout estate planning. However,misconceptions about wills abound, which is a big reason many Americans do not have a will. Read more about the misunderstandings of what a will can and cannot do and why it may also be holding a client back from creating - and making the most of - this basic yet crucial estate planning document.
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Is a Will Right for Your Clients?
Every client, regardless of the size of their estate or their age, can benefit from a will that gives legal effect to their inheritance plan. Even if they have a trust to manage asset distributions, a trust cannot address every estate planning consideration. Read more to understand that wills have limitations as well, but they belong in a comprehensive estate plan.
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MEREDITH | PC
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Flower Mound Texas 75028
214-513-1013
This newsletter is for informational purposes only and is not intended to be construed as written advice about a Federal tax matter. Readers should consult with their own professional advisors to evaluate or pursue tax, accounting, financial, or legal planning strategies.
You have received this newsletter because I believe you will find its content valuable. Please feel free to Contact Me if you have any questions about this or any matters relating to estate planning.
