Do You Need an Estate Plan? (Part 2 of 2)

To recap last week, unless you want a judge deciding what happens to your kids (and your stuff) if you're gone, then you need an estate plan.

But where do you start? There's 3 steps:

1. Decide:

a. Who will take care of your kids?

b. Who will take care of the money for your kids?

c. What can they use your money for?

2. Talk: Discuss your decisions with those you've designated. Make sure they are up to the task.

3. Draft: Make your decisions official (and legal) by creating an estate plan with an estate attorney.

Pretty simple, right?

You'd think. Just wait until you try to do it. On average it takes our Financial Zen members 3-6 months to make the decisions and talk to their people.

We're not estate attorneys, but we quarterback our Financial Zen members through the process. So if you want some help getting pointed in the right direction, schedule a few minutes with us.

BONUS TIP: A will is NOT an estate plan. This is a common source of confusion. Even if you have a will, your kids (and your stuff) will go through probate court.

DISCLAIMER:  This publication is for educational purposes only and should not be considered financial, tax or legal advice.  These statements have been simplified for illustration purposes.  Consult your financial planner or tax advisor for help with your specific situation.