A good estate plan can be costly, but it’s a bargain when you consider the benefits.
Estate planning is something you should think about, but most important, after a major life change such as widowed, remarriage or divorce.
Not having a good plan in place could be a financial nightmare.
Proper planning not only gives you peace of mind about what will happen to your assets when you’re gone but also allows you to preserve the peace with loved ones now.
Here are a few questions to consider:
=What do you want to happen when you die?
=Who do you want to make decisions for you, if you can’t make them for yourself?
=Who will provide for your kids?
=Who will take over as guardian for any minors when you die—the surviving spouse or the natural parent? Do the kids get a say?
Make sure you consult with an estate planning lawyer as well as a financial planner.
To view the entire article and list of questions, go to http://www.weisseducation.com/blended-families-the-estate-planning-quest... now.
Douglas Davenport, J.D. is a contributor to WeissEducation.com and is the Former President and Chief Investment Officer for Atlanta Investment Counsel, LLD, an investment advisory firm. He is also a member of the State Bar of Georgia and the Fiduciary Law section of the state bar.