(NC)-People spend a lifetime building wealth, but many don’t give much thought to how their assets will be distributed after they’re gone? Estate planning can be an uncomfortable topic in many families, but an orderly transition of wealth is essential for your overall financial well-being.

“It’s never too early to put the estate planning wheels in motion,” says Chi Wen Liang, a regional manager and Certified Financial Planner with Altamira Investment Services. “Having an estate plan clearly states how you want your assets distributed to loved ones after you’re gone. You can start this planning as soon as you begin to accumulate wealth, whether in property or investments. In fact, many people turn their attention to their estate when they get married or start a family.”

The first step in the process is consultation and financial guidance. A qualified advisor will walk you through the process, part of which includes: making a list of your assets and liabilities; planning for insurance if needed; and/or connecting you with a lawyer for the creation of a will and powers-of-attorney.

“Together with your financial advisor, you can develop a strategy that first builds up your estate,” Liang explained, “and then documents exactly how to pass it on smoothly to your heirs.”

More information is available at altamira.com.

Credit: www.newscanada.com

Related posts:

1. Estate Planning: Smooth transition of assets can be assured
2. Estate Planning – Find Out About the Taxes and Other Expenses Now
3. Money Wise Quick Tip: Calculate how much you need to retire
4. Inherit wisely
5. Five Tips for Retirement Planning in a Challenging Economy

Give us your rating of this article below!

Trackback URI | Comments RSS