Smart Money | Estate Planning Without Anxiety

In this down economy, especially in Michigan, planning for today seems more important than planning for the future.  That unfortanly leads to even more procrastiantion when it comes to individuals preparing their estate plan.

Smart Money has an article entitle “Estate Planning Without Anxiety“.  The article discusses some simple steps to take so that you can plan your estate without anxiety.

They first recomendation is to take stock of everything you own.  I recently worked with clients who were helping their parents with their estate plan.  I told them that it is much easier when everyone is around to organize accounts, passwords, documents, deeds then once someone has passed.

The rest of the article talks about Federal Estate Taxes and advanced estate planning techniques including Credit-Shelter Trusts, Generation-Skipping Trusts, Qualified PErsonal Residence Trusts,  and Irrevocable Life Insurance Trusts,

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