Weinstein & Randisi
Phone:585-310-1578
Toll free:800-768-1780

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Can you make your own estate plan?

The do-it-yourself crowd has access to tools that were unimaginable even a decade ago. Those tools can be powerful, but therein lies the problem. Power, in the hands of the inexperienced, can be disastrous. If you are considering creating an estate plan on your own, it is important to have an accurate understanding of exactly when a problem is beyond your ability to solve.

Recognizing Fads In Estate Planning

There are basic elements to estate planning that are generally included in any comprehensive plan. But like any field, there are emerging trends, fads and misinformation that can alter a plan for better or worse. It is important to get reliable, cutting edge advice to avoid mistakes while still taking advantage of powerful new tools.

One simple step to protect your loved ones

When you buy an insurance policy, open a bank account or set up a retirement account, you are required to designate a beneficiary. In some cases, you may be asked to choose a secondary beneficiary, but that is often not mandatory. As your life changes, you preference regarding who benefits from these accounts may also change. If you have not taken a look at these account for some time, now is an excellent time to review them.

Life and death planning

The point of estate planning is not to dwell on your own demise. Estate planning involves many items that serve to improve your life, now and into the future. Of course, there are elements of estate plans that only come to fruition when you die, but there are worse things than making sure that your final wishes are honored and your loved ones protected.

The importance of seamless estate planning

People tend to put off estate planning and elder planning far longer than they should. Some choose a piecemeal approach, making plans for one thing or another over a period of months or years. Delay and the lack of a cohesive plan can cause many problems when it comes to your legacy. They can lead to unnecessary tax liability. They can frustrate your intentions. They can even lead to disputes that tear families apart. It is important to make a plan with a clear and consistent vision of what you want for the future.

Estate planning to prevent financial exploitation

As we age, it is a sad truth that we draw the attention of people looking to take advantage. Older Americans are heavily targeted by individuals and groups looking to defraud them of the assets they've accumulated over a lifetime. An elderly person who is not in full control of their financial situation could find themselves destitute in a matter of months.

Simple estate planning steps for women over 50

As our society has changed over the preview few decades, many women are beginning to find themselves on their own as they approach late middle age. Whether through divorce, death of a spouse or simply deciding never to marry, middle-aged women are beginning to control an increasing portion of our nation's wealth.

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Weinstein & Randisi
290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
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