5. Estate planning


Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Divorce
Death of a Life Partner
Military Life


Estate planning. “How should my will and other estate documents be updated?”

When children become young adults, your estate plans should be reviewed and perhaps refocused.

This is the appropriate time to review the ownership and beneficiary designations of your financial assets, review your intentions with respect to the distribution of your probate estate via your will, and prepare a health care power of attorney, living will and other advance directives.

The following subtasks may assist you in estate planning. You will find detailed resources for these subtasks under the links in the right column of this page.

Subtask 1: Review your ownership and beneficiary designations

Subtask 2: Revise your will with the assistance of an estate planning professional

Subtask 3: Prepare advance directives


Emptying the Nest Tasks

1. Financing college
2. Revising your spending plan
3. Planning for long-term care
4. Preparing for retirement
5. Estate planning

Estate planning Subtasks

1. Review your ownership and beneficiary designations
2. Revise your will with the assistance of an estate planning professional
3. Prepare advance directives

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