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SMART MONEY STRATEGIES FOR EVERY AGE AND SITUATION
Your 60s and Up—The Retirement Years

Section 8 of 11:
ESTATE PLANNING:
What Do I Need to Know?

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The two-thirds of Americans who do no estate planning might be
shocked to learn that when people die without wills, the probate
court takes over and can dominate survivors lives for years.  The
small amount of time and money you must invest now to dictate
what happens when you die is well worth the effort.

Combined with the tips, techniques and action strategies included
in the other sections of this report, you can learn how to micro-
manage your funds so that your money multiplies itself.

Read on and reap the financial rewards!

Jordan E. Goodman
America’s Money Answers Man
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ESTATE PLANNING:
What Do I Need to Know?

If you have accumulated assets worth more than $675,000 (rising
to $1 million in 2006,and $1.3 million for farmers and small
business owners), you need to execute a detailed estate plan, which
may involve establishing trusts. Even if you do not have that much
money, you need a will to instruct the probate court how to
distribute your assets. To avoid probate, look into establishing a
living trust, which you control while you are alive but that can curb
estate taxes and complications for your heirs when you die.

To guard against the possibility that you may become mentally or
physically incapacitated, execute a living will, durable power of
attorney, or health care power of attorney, which allows your
spouse, children, doctor, or close friend to make vital medical
decisions if you are incapable of doing so.

Also, plan your funeral, and make arrangements for burial,
cremation, donation to science, or whichever method you choose
to dispose of your remains.

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RESOURCE | RESOURCE | RESOURCE
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Related Articles:
» 8- Should I Be Concerned with Estate Planning Yet? (20s30s)
» 8- Should I Be Concerned with Estate Planning Yet? (40s50s)
» 3- Real Estate Implications (60sUp)
» 3- Real Estate - Another point of view (40s50s)
» 10- Maximizing Retirement (60sUp)
» 3- Owning vs. Renting, What Is Right For You? (20s30s)
» 10- If I Start Now, How Much Do I Need to Save for Retirement? (20s30s)
» 10- If I Start Now, How Much Do I Need to Save for Retirement? (40s50s)
» 1- How Are You Doing Financially? (60sUp)
» 9- College Funding (60sUp)

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A Word From Jordan