More than half of all Americans have no will. Even fewer have a Living Trust. Why? The answer is simpler than you think. Nobody wants to talk about death. That’s understandable right, but what will that cost your heirs? If your estate goes into probate it will cost between 4 – 7% of the total value of the estate. That’s between $40,000 and $70,000 for each million in the estate with no cap, which is a hefty sum and completely avoidable.
Here are some tips to keep your estate as structured and untouched by fees and taxes as possible.
A durable power of attorney lets your agent manage your finances and legal affairs.
A release-of-information form gives doctors permission to share your medical records with designated representatives.
Advance directives. A durable power of attorney for health care
As you can see there are so many ways to protect your estate from being de-valued after your passing. Of course, the most important piece of advice is to find quality professionals that you trust to take care of your money.
Leading the industry through his innovative approach, Dino Katsiametis has over 17 years of extensive experience within mortgage, banking and real estate industries. His passion for the collective financial and investment services sector combined with his distinct insight, has catapulted Money Matters with Dino onto the forefront of financial news.
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