Making the Most of Your Estate Plan

Want a say in how your resources are transferred to the people and causes close to your heart?

Your completed estate plan ensures the legacy you envision is carried out for generations to come.

Here are three critical components every plan should include:

1. Will or Trust: A will or trust specifies who will inherit your assets when you no longer need them. If you don’t create a will, the court will make these decisions for you. Having these documents in order offers you peace of mind, knowing your values will be honored and your wishes will be carried out.

2. Beneficiary Designation Forms: An important part of the will planning process is designating your beneficiaries of retirement accounts, insurance policies and other financial accounts. This ensures your assets will be given to the people and causes close to your heart, in alignment with your will.

3. Power of Attorney Documents: Power of attorney documents allow you to appoint trusted representatives to handle your financial and health decisions in the event you’re no longer able to make decisions on your own. These documents shield your loved ones from costs and conflict, reducing confusion or arguments over what’s in your best interest.

What else should your plan include? Request your free copy of “Roadmap to a Completed Will” by calling Paul Montgomery at 423-844-2000 or email stewardship@cmda.org.