Who You’re Planning For
While I’ve talked (probably too much) about doing what you want, think about who you’re planning for. It’s not only for you. It’s for your loved ones. You’re working hard to be sure that they’re taken care of. For some of you, your beneficiaries aren’t people, but charitable institutions that you wish to support after your death. Regardless of whom or what you want to provide for, you need an estate plan that includes them. If you don’t, your assets could end up being distributed according to state law. Chances are most of you wouldn’t want someone else to decide who gets to keep your mother’s wedding ring or your treasured teacup collection. Now, if that’s not enough to scare you into action, I don’t know what is! Chapter 5, “What Will Happen to Your Loved Ones?” discusses the many different beneficiaries and the planning options for each. You can be creative. I’ll show you how to work your creativity into your plan to achieve your goals, protect your assets, and care for your loved ones.