Estate Planning Basics

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Nobody likes talking about it, but you’re bound to have heard of someone who passed unexpectedly without a will, leaving their estate in chaos. Regardless of your age or financial situation, estate planning is something that should be implemented by everyone, and can provide you with peace of mind.

With some simple planning, you can make sure your assets are in good hands after you’re gone or if you become unable to make decisions on your own.

Watch it to find out:
1. What happens to an estate with and without a will
2. What happens when an estate goes into probate and the fees and delays that go along with it
3. The differences between revocable and irrevocable trusts and which offers better asset protection
4. Two types of power of attorney and how each works
5. How the annual gift tax exclusion can be used to pull tax free money from an estate

Making a plan in advance and identifying your heirs is just scratching the surface. Good estate planning involves understanding options, reducing legal fees, identifying tax benefits and finding strategies that make sense for you and your family. It’s an ongoing process that starts with this video.


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