Financial planning should always take into account the legal
issues that influence the transmission and conservation of your
wealth at death – that is, your estate.
The first thing to ascertain is that your estate will devolve to
the people you choose. Your financial planner will check whether
the provisions of your will and the beneficiary designations of
your life insurance and annuity contracts reflect your wishes in
this regard. If you don’t have a will, the law will decide how and
to whom your estate will be distributed.
Imagine how you’d feel if an aunt you don’t even know inherited
half of your assets! That’s why it is so important to plan.