Life is unpredictable, and unfortunately, one of the harsh realities many women face is outliving their spouses. Women outlive men by an average of six years, which means it’s important to take inventory of your financial situation and consider how your
finances will hold up to major life events. Estate planning is not a task reserved for the aftermath of significant life events. Taking a proactive approach empowers you to secure your financial future, adapt to life changes, and ensure your wishes are honored. It also provides the clarity needed to make thoughtful decisions without the added burden of navigating the fog of grief.
The first step in effective estate planning is to take stock of your current financial situation. Gather important documents such as wills, trusts, life insurance policies, and account statements. Identify joint assets, outstanding debts, and any financial obligations. Understanding your financial landscape is crucial for making informed decisions about the estate. It’s a good idea to put together a list of accounts and make sure you know how
to access them. It’s also important to maintain contact information for any financial professionals, insurance agents, attorneys and accountants.
While attorneys and tax professionals are a necessary for developing estate plans and legal documents, Capstone can help you prepare in advance, making sure your plan is comprehensive and
tailored to your family’s needs.
