{"id":12379,"date":"2017-03-03T14:00:10","date_gmt":"2017-03-03T20:00:10","guid":{"rendered":"http:\/\/www.paristn.net\/articles\/?p=12379"},"modified":"2017-03-03T02:58:48","modified_gmt":"2017-03-03T08:58:48","slug":"frazier-allen-five-reasons-to-prioritize-a-lasting-legacy","status":"publish","type":"post","link":"https:\/\/www.paristn.net\/articles\/2017\/03\/03\/frazier-allen-five-reasons-to-prioritize-a-lasting-legacy\/","title":{"rendered":"Frazier Allen: Five Reasons to Prioritize a Lasting Legacy"},"content":{"rendered":"

\"F&MClarksville, TN<\/strong> – Have you been dragging your feet on estate planning? You\u2019re not alone. Nearly 64% of U.S. adults don\u2019t even have a will, including 51% of people age 55 to 64, according to website Rocket Lawyer.<\/p>\n

But a lack of estate plan, or an outdated one, leaves you and your family vulnerable. Your assets could get tied up in the costly court probate process after death.<\/p>\n

\"Estate<\/a>

Estate planning is for everyone<\/p><\/div>\n

Your loved ones might have to make difficult decisions about your medical treatment if you become incapacitated.<\/p>\n

And they might dissolve into bickering over what you might have wanted.<\/p>\n

Think about it: You know your intentions, and who better to choose who will make decisions for you if you become incapacitated?<\/p>\n

That\u2019s why it\u2019s important to nail down three basic elements:<\/h4>\n
    \n
  • A will that includes a list of personal property and who will inherit<\/li>\n
  • A durable power of attorney to make financial decisions in the event of your incapacity<\/li>\n
  • An advance healthcare directive<\/li>\n<\/ul>\n

    Here are a few reasons to get your affairs in order.<\/h4>\n
      \n
    1. Making sure your loved ones will be taken care of. <\/strong>A will is especially crucial for blended families, where children from a previous marriage may not be automatically provided for in the manner you intended. Taking stock of your assets also offers a chance to think about how well your family will be able to adapt and then plug any gaps. For example, long-term care insurance can protect against the high cost of a nursing home stay, and life insurance can provide a safety net to help pay the bills. <\/li>\n
    2. Avoiding probate.<\/strong> There are a few strategies that apply here. One option is to list beneficiaries for your bank and retirement accounts to ensure the money goes straight to them. You can also create a revocable living trust for your property, give assets away while you\u2019re alive or consider joint ownership.<\/li>\n
    3. Ensuring someone you trust will be available to manage legal and financial matters. <\/strong>A durable power of attorney can also step in if you should become incapacitated and handle property maintenance or manage investments or a small business. You can designate joint power of attorney if you think more than one person is needed to handle your affairs.<\/li>\n
    4. Securing the medical treatment you want. <\/strong>A living will and durable power of attorney for healthcare, both elements of an advance healthcare directive, can address when to provide or withhold artificial nutrition and other life support.<\/li>\n
    5. Minimizing federal and state estate taxes. <\/strong>There are a number of ways to preserve more of your assets to benefit your loved ones and favorite charities.<\/li>\n<\/ol>\n

      Your family and your legacy are important; take the time to protect them as best you can. Once your plan is in place, you will need to review it, including beneficiary designations, once a year and after each major life change.<\/p>\n

      Next Steps:<\/h4>\n
        \n
      • Update beneficiaries and review insurance<\/li>\n
      • Share your values through charitable giving or a family love letter<\/li>\n
      • Create a comprehensive estate plan that fits your objectives<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        Clarksville, TN – Have you been dragging your feet on estate planning? You\u2019re not alone. Nearly 64% of U.S. adults don\u2019t even have a will, including 51% of people age 55 to 64, according to website Rocket Lawyer. But a lack of estate plan, or an outdated one, leaves you and your family vulnerable. Your […]<\/p>\n","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[3],"tags":[106,1898,11527,9451,11528,11386,8501,4631,4628],"class_list":["post-12379","post","type-post","status-publish","format-standard","hentry","category-business","tag-business-spotlight","tag-clarksville-tn","tag-estate-planning","tag-fm-bank-investment-services","tag-heathcare","tag-power-of-attorney","tag-raymond-james-financial-services","tag-rocket-lawyer","tag-will"],"_links":{"self":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/12379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/comments?post=12379"}],"version-history":[{"count":1,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/12379\/revisions"}],"predecessor-version":[{"id":12380,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/posts\/12379\/revisions\/12380"}],"wp:attachment":[{"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/media?parent=12379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/categories?post=12379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.paristn.net\/articles\/wp-json\/wp\/v2\/tags?post=12379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}