Will and Trust Preparation
Your will outlines how your assets will be distributed, as well as who will administer your assets, in the event of illness, incapacity, or death. Failure to obtain a will can result in complex legal entanglements, which could prevent your assets from being distributed properly.
Life Insurance
If you have a life insurance plan or retirement savings plan, it is important that the individual you want to receive the money is clearly stated. Naming a beneficiary will ensure that the insurance money will be passed to them without taxes or probate fees.
Charities
Charitable giving is a wise decision for those who wish to give back. In addition, it can also help reduce taxes at the time of death.