DANIELLE & ANDY’S TOP TIPS FOR THE NEW YEAR
It’s the beginning of the year, which means that we all have well-intended New Year’s resolutions. The diet, the exercise regimen, saving money…and finally doing our estate and financial planning. The celebrity stories in Trial & Heirs: Famous Fortune Fights! can help motivate you to actually do your planning this year. Really!
Here are some of our easy-to-use estate planning tips for the new year:
1. Get your financial affairs organized this year. Create an “asset” list, including the account numbers, names of financial institutions, and related information for your insurance, stocks, bonds, CDs, securities, bank accounts and other investments.
2. Store your asset list and your estate planning documents in a fireproof box, safe, or safety deposit box. Remember to make sure that your loved ones can find and access these documents! We have an Estate Planning Organizer to help you with this. Just email us at firstname.lastname@example.org if you want to learn more.
3. Review and update your estate planning documents and your financial plan with your professionals in the next twelve months, especially if you haven’t done so in the last few years or if you’ve experienced any life events, such as the birth of a child or a divorce.
4. If you have a revocable living trust, work with your estate planning team to ensure that your investments, insurance, and other assets are properly titled into your trust. If this isn’t done, then the trust doesn’t do you much good!
5. Have the conversation with your loved ones about their estate planning. Remind them how important it is to have power of attorneys, a will, and for most people, a trust. The celebrity stories in Trial & Heirs are a great way to get this conversation started!
Feel free to share these New Years resolutions with your family members, loved ones, clients and prospects to help motivate them to get their estate planning in order!
Danielle and Andy Mayoras are co-authors of Trial & Heirs: Famous Fortune Fights!, television hosts and keynote speakers. You can find them on Facebook, Twitter, Instagram, YouTube, and LinkedIn. For all the latest celebrity legal news, be sure to check out their blog.