10 Estate Planning Questions to Ask Yourself Today

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10 Estate Planning Questions to Ask Yourself Today

10 Estate Planning Questions to Ask Yourself Today

There are many things you don’t think about daily. One of these is likely the estate planning process. However, this is one of the most important things you should be thinking about. Additionally, you should be using the right estate planning and life insurance specialists as early in life as you possibly can, if you would like to protect your family and your assets.

 

No matter how much your assets are worth, how much you want to leave behind to your family, or how you choose to protect your loved ones when you’re gone, you need to begin the estate planning process early. This begins with investing in a viable life insurance policy that will protect your net worth while leaving behind enough money for your loved ones. So, where do we begin with the estate planning process and how do you choose the right life insurance policy based on your net worth and the value of your assets? Let’s delve into these estate planning questions you should be asking yourself, as you begin the process.

 

Top Estate Planning Questions to Help you Safeguard Your Estate

These are a series of estate planning questions you should start asking yourself to help you establish the guidelines you’ll implement while saving for your future. Our team at Accomplish Insurance is here to answer these questions and to help guide you through the planning, investment, and life insurance process, as you’re working towards safeguarding your family’s future.

 

1) Do you have a will?

2) Is your living trust revocable (do you have a revocable living trust)?

3) Did you appoint a power of attorney for healthcare and financial directives?

4) Who needs to be taken care of and do I have the resources available to them if I were to die tomorrow?

5) My children are younger than 18; who is going to take care of them (if you’re the only parent)?

6) Why do I need a life insurance policy with a death benefit payout?

7) Who is included in my will/inheritance and how much do I want to leave for each of these heirs?

8) Can my heirs take care of their finances or do I need to appoint someone to take care of them (age, capacity, etc.)?

9) Am I going to leave behind any charitable donations?

10) Do I want term or permanent life insurance to protect myself (value) while I’m living?

Bonus question #11… How can Accomplish Insurance help me accomplish my estate planning in Kelowna and set aside money so my family is well taken care of when I’m gone?

 

Don’t Wait too Long to Choose Your Policy

A mistake that many people make is to believe they’re immortal. Nobody likes to think of their demise or death, however, if you want to protect your wealth after you are gone, you need to plan now. The earlier you set aside a plan, a will, trusts, and other legal documents to protect your estate, the more comfortable you’ll feel in knowing your family is taken care of if something does happen to you. And, you don’t have to worry about creditors, or other predators, trying to take what is rightfully yours, or the assets you’ve chosen to leave to your family.

 

It doesn’t matter how old you are, purchasing a life insurance policy is something you have to do if you have a family and are a high net-worth individual. It’s the only way to know you’re covered, and they’re covered when you’re gone. Many people believe they don’t need a policy in place if they’re 40 years old. This is a mistake. You’ll pay less for your life insurance policy at 40 years of age than you will at 60 years of age. You’re healthier, meaning it’s less risky to insure you for a highly valued insurance policy now than it would be if you were to buy a policy at 60 or 70 years of age.

 

Don’t wait. Even if you just have a few questions about life insurance and estate planning, the right team of professionals can help. We’re here to help and guide you through this arduous process!

Contact our team at Accomplish Insurance today to learn more about our life insurance policies, how we can help you plan for your future, and how you can plan for your family’s future, as you’re stating the estate planning in Kelowna process.