Estate planning is a common term thrown around, but many are unaware how crucial this piece is when constructing a financial plan. What is estate planning? Estate planning is the process in which you determine what you would like to have happen with your assets and family in the event of your incapacitation or death. Simply put, estate planning allows you to name who inherits your assets, and who is in charge or your legal, financial, and medical decisions.
At Tortuga Financial, we proactively analyze your financial situation and determine where your estate planning gaps exist. Common gaps include:
-not having proper up to date estate planning documents (ex. wills and trusts),
-improper ownership of accounts,
-and lack of secondary beneficiary designations on investment accounts and insurance policies.
Once gaps are identified, we help you work with a local estate planning attorney to draft documents and implement your estate plan.