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Estate Planning- Not Just For The Wealthy

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<html> <head> <title>Estate Planning- Not Just For The Wealthy</title> </head> <body> <h1>Estate Planning- Not Just For The Wealthy</h1> <div class="info">Author: <a href="http://matthewbgournay.articlealley.com/">Matthew B Gournay</a></div><div class="body">You've worked hard, accumulated assets, and been diligent in saving for a comfortable retirement. Now it is important to implement a plan to protect those assets in the event something were to happen to you. Estate planning is critically important in the development and implementation of a plan that facilitates the distribution of your assets in the event you become incapacitated, or ultimately, at death. Having an estate plan can help ensure that your money and other assets are distributed as you choose. Some people wish to leave their assets to loved ones. Other individuals may wish to designate their assets to a particular charity. Without an estate plan, you have no say on who gets what. What's more, your property may go to others such as the state and federal government. <br /> <br /> Estate planning is not just for the wealthy. Proper planning may be important to individuals with a wide range of financial situations. In fact, it may be more important if you have a smaller estate, as final expenses will have a much greater impact on your estate. Your plan may include many different components including power of attorney, wills, trusts, life insurance, and gifting.<br /> <br /> Power of Attorney- A written document that authorizes a particular person to perform certain acts on behalf of the person signing the <br /> document.<br /> <br /> Wills- A will is a legal document that lets you state how you wish your <br /> property distributed after you die and who will administer your estate, <br /> and who will be the guardian of any minor children.<br /> <br /> Trusts- A trust is a separate legal entity that hold your assets that are then <br /> used for the benefit of one or more people.<br /> <br /> Life Insurance- A contract between the owner and a life insurance company <br /> that can provide proceeds to a beneficiary at the death of the<br /> insured. Life insurance can play an important part in estate<br /> plans. <br /> <br /> Gifts- A gift is a transfer of property that you make during your life to <br /> family, friends, or charities. Gifting can be personally gratifying as <br /> well as an effective estate planning tool.<br /> <br /> For help determining which estate planning vehicles are right for you, given your age, your financial situation, and your desire to preserve your assets for the benefit of others, call your financial professional.<br /> <br /> The preceding should not be construed as tax or legal advice. Neither Jefferson Pilot nor its affiliates offer such advice. Certain of the estate-planning techniques are not available in all states. Please consult your financial and legal advisors for information appropriate to your specific situation<br /> <br /> Jefferson Pilot Securities Corporation<br /> One Granite Place Concord, NH 03301<br /> 800-258-3648<br /></div> <div class="source">Article Source: <a href="http://www.articlealley.com/http://matthewbgournay.articlealley.com/estate-planning-not-just-for-the-wealthy-84417.html">http://www.articlealley.com/http://matthewbgournay.articlealley.com/estate-planning-not-just-for-the-wealthy-84417.html</a></div> <div class="author"> <div class="authorOccupation"><strong>Occupation:</strong> Certified Financial Planning Practitioner</div> <div class="authorBio">Matthew's focus is helping small to mid-sized business owners with their estate, business succession and corporate retirement plans. He has served on The Golden Scale 401(k) Advisory Board for Putnam Investments and is a member of Alliance Capital</div> <div class="authorUrl"><a href="http://www.legacypg.com/new/legacypg/" target="_blank">http://www.legacypg.com/new/legacypg/</a></div></author> </body> </html>

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Estate Planning- Not Just For The Wealthy Author: Matthew B Gournay You've worked hard, accumulated assets, and been diligent in saving for a comfortable retirement. Now it is important to implement a plan to protect those assets in the event something were to happen to you. Estate planning is critically important in the development and implementation of a plan that facilitates the distribution of your assets in the event you become incapacitated, or ultimately, at death. Having an estate plan can help ensure that your money and other assets are distributed as you choose. Some people wish to leave their assets to loved ones. Other individuals may wish to designate their assets to a particular charity. Without an estate plan, you have no say on who gets what. What's more, your property may go to others such as the state and federal government. Estate planning is not just for the wealthy. Proper planning may be important to individuals with a wide range of financial situations. In fact, it may be more important if you have a smaller estate, as final expenses will have a much greater impact on your estate. Your plan may include many different components including power of attorney, wills, trusts, life insurance, and gifting. Power of Attorney- A written document that authorizes a particular person to perform certain acts on behalf of the person signing the document. Wills- A will is a legal document that lets you state how you wish your property distributed after you die and who will administer your estate, and who will be the guardian of any minor children. Trusts- A trust is a separate legal entity that hold your assets that are then used for the benefit of one or more people. Life Insurance- A contract between the owner and a life insurance company that can provide proceeds to a beneficiary at the death of the insured. Life insurance can play an important part in estate plans. Gifts- A gift is a transfer of property that you make during your life to family, friends, or charities. Gifting can be personally gratifying as well as an effective estate planning tool. For help determining which estate planning vehicles are right for you, given your age, your financial situation, and your desire to preserve your assets for the benefit of others, call your financial professional. The preceding should not be construed as tax or legal advice. Neither Jefferson Pilot nor its affiliates offer such advice. Certain of the estate-planning techniques are not available in all states. Please consult your financial and legal advisors for information appropriate to your specific situation Jefferson Pilot Securities Corporation One Granite Place Concord, NH 03301 800-258-3648 Article Source: http://www.articlealley.com/http://matthewbgournay.articlealley.com/estate-planning-not-just-for-the-wealthy-84417.html About the Author: Matthew's focus is helping small to mid-sized business owners with their estate, business succession and corporate retirement plans. He has served on The Golden Scale 401(k) Advisory Board for Putnam Investments and is a member of Alliance Capital http://www.legacypg.com/new/legacypg/

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by Matthew B Gournay
Matthew's focus is helping small to mid-sized business owners with their estate, business succession and corporate retirement plans. He has served on The Golden Scale 401(k) Advisory Board for Putnam Investments and is a member of Alliance Capital
URL: http://www.legacypg.com/new/legacypg/

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Estate Planning- Not Just For The Wealthy

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