Building Blocks of Estate Planning

In one of my recent webinars, I discussed the building blocks of estate planning. It is my goal to help educate women about the importance of being involved in the estate planning process. In this forum, I share many tips for successfully navigating this process in a way that will make you feel confident and secure about your family’s future.


If you weren’t able to attend the live webinar, or simply don’t have the time to watch the full video, here is a recap of some of the things I talked about.


Why is it important for women to be involved in the estate planning process?

95% of women will be their family’s primary financial decision-maker at some point in their lives, yet so many of these women are not actively participating in the financial and estate planning process.


The shocking truth is that widows outlive their husbands by an average of 14 years. 80% of men die married, while 80% of women die single. Whether you decide to get married or not, you will be responsible for managing your finances at some point. 


This is why it is imperative that all women participate in the wealth management and estate planning process. 


Who should I have on my estate planning team?

Typically, you would have a CPA, a trusted financial advisor, a lawyer (trust and estate), and a life insurance agent. It’s important to assemble all of these people together. If you don’t have one of these advisors, an easy way to find one is to ask for referrals from the advisors you already have.


What do I need to bring to an estate planning attorney?

One of the most crucial items your estate planner will need at the beginning of the process is your asset inventory list. This document lists what you own, how it’s titled, and what the value is. This allows your estate planner to make the proper plans for how these assets should be distributed after you pass away. The advisors mentioned above will be able to help you find the information you need if you are unsure.


What estate planning documents do I need?

There are certain estate planning documents that everyone needs, regardless of age, marital status, wealth circumstances, etc. These documents are:

  • Wills
  • General Powers of Attorney
  • Advanced Health Care Directives
  • Beneficiary Designations


For more information on the importance of these documents and to hear the other building blocks of estate planning, watch the recording of my webinar here


If you’re ready to take control of your family’s financial future, Lefkoff-Duncan is here to help. Our experienced team will assist you in all of your estate planning endeavors so that you’ll never again need to wonder if you’ve done enough to take care of the ones you love. Give us a call at your convenience at 404-262-2000 to get started.