Estate and Legacy Planning

Your legacy means a lot. Protect it by being prepared.

In this video, Scott shares the five documents you need to include in your retirement estate plan.

You need an estate plan. 

Estate Planning is for everyone, even those who may not consider themselves ultra-wealthy. We want to leave our loved ones with an organized and clean way to distribute our assets. Whether it is choosing your healthcare decisions while you are still living or estate distribution after you pass away, estate planning will keep you in control of the process and assure that you are the one who is making decisions for your health and your assets. 

5 Key Items You Need for Estate and Legacy Planning: 

1. Healthcare Power of Attorney 

2. Financial Power of Attorney 

3. Living Will 

4. Will 

5. Trust 

Healthcare Power of Attorney 

Designate a person who can make decisions for you and get information regarding your medical treatment in the case that you are unable to make decisions for yourself. It is important to choose in advance who you would like to make those decisions, or the state will choose for you. 

Financial Power of Attorney 

The same is true in the case of your financial assets. You choose who will make decisions which will be in your best interest regarding your investments, bank accounts, and other financial matters. It will also ensure that your spouse can withdraw funds from your 401k. 

Living Will 

Free your loved one from making painful decisions in the case of your becoming ill or incapacitated in some way. Have a written plan that details what treatments you do or do not want to sustain your life. 


You can continue to ease the burden after your passing by leaving a will. Without a written plan, your estate will go into probate, the legal process that administers your estate and distributes your assets. Probate court will decide, based on the state’s rules, how your assets and affairs are handled. If you want to maintain control of how your affairs will be handled and assets distributed, you need a will to secure that. Probate will then simply validate that it is a legal and valid will. 


In some cases, a trust may be preferred. Probate is public record, so if you would like to avoid probate altogether, a trust will serve the same purpose but give more control than a will. It may cost a bit more to set up, but those with a more complex family life might find it beneficial. For example, blended families will be able to specify how assets are distributed and avoid the cost and headaches of probate. 

We talk a lot about having a written, well-integrated plan so that you can create the maximum benefit for your retirement and estate planning. 

Talk with your advisor today to ensure you have your best plan ready to maintain control of your assets and distribution decisions no matter what the circumstances.

If you have any questions, please don’t hesitate to call us at 844-CARLSON (844-227-5766).

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