Estate planning includes the process of documenting our intentions so that they are known after we pass away. Done well, the process is straight-forward, and the outcomes align with one’s original vision. Not done well, or ignored, the process can be quite difficult, time consuming, and leave heirs with complicated situations to sort out. As Cheryl Munk of The Wall Street Journal highlights in Haven’t Updated your Estate Plan in a While? It’s time, 52% of children report that they haven’t had detailed conversations with their parents about their intentions once they pass away.
Clients who have gone through the process of building their estate plan should make sure they keep this plan updated regularly. Carlson Capital Management recently authored an article titled Five Key Estate Planning Matters to Consider Annually, which provides useful advice for those with an established estate plan.
NOTE: The articles and information at the above links contain the opinions of the author(s) and those interviewed by the author(s) but not necessarily Carlson Capital Management and does not represent a recommendation of any particular security, strategy or investment product. The opinions of the author(s) are subject to change without notice. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. These articles are distributed for educational purposes and should not be considered investment advice or an offer of any security for sale. Past performance is not indicative of future results and no representation is made that the stated results will be replicated.