Estate Planning Potholes: Beneficiary Designation
Estate Planning can be a tough road, we discuss one of the common potholes you may encounter on the journey: Beneficiary Designation.
Phone: (765) 423-2557
Fax: (765) 423-4544
Estate Planning can be a tough road, we discuss one of the common potholes you may encounter on the journey: Beneficiary Designation.
The key to avoiding probate is making sure that you do not hold title to any assets in your name alone at the time of your death and for those assets where beneficiary designations are permitted, that you in fact name both a primary and a contingent beneficiary.
After a long period of neglect, some of the potholes on my street were finally patched. Hitting an unseen pothole with your car can cause you serious time and money. The same is true of estate planning where neglect can cause serious financial harm to your heirs. However, these potholes can be avoided with careful estate planning.
Regardless of its size, a successful estate plan needs the following 5 elements in place to manage your estate.
Steven Knecht helps clients plan for the management and distribution of their assets through wills and trusts. With 34+ years of experience, he is familiar with the legal wording creating a will or trust and can ensure it is correctly implemented in the