On this edition of Your Call, we discuss how to get your financial and legal end-of-life affairs in order.
According to Trust & Will, 55 percent of Americans have no estate plan at all, leaving their wishes – and their loved ones – unprotected. Estate planning is crucial to ensure you and your loved ones are prepared after you pass or become incapacitated.
Dying or becoming incapacitated without a financial plan in place places an enormous burden on your loved ones who may be forced into complex and expensive legal proceedings while grieving. The lack of clarity can also cause serious damage to the relationships of your loved ones who may disagree on how to move forward.
What documents should you have in place? What steps can you take to ensure you and your loved ones are protected and prepared?
Guests:
Craig Parker, Assistant General Counsel at Trust & Will
John Kithas, Attorney at the Law Offices of John A. Kithas
Resources:
Trust & Will: Who Has an Estate Plan? A Demographic Breakdown
AARP: Disparities in Wealth Transfer: Experiences and Expectations of Adults Ages 50-Plus
National Institute on Aging: Getting Your Affairs in Order Checklist
UCSF Memory and Aging Center: Medical, Financial & Legal Planning
The New York Times: I Asked My Mom if She Was Prepared to Die
