Flexibility
and Control
Critic’s Guide to Estate Planning Tools Film critics like to rate movies on a star system, with four stars being the best and one or zero stars the worst. The chart below assesses wills, revocable living trusts, joint and survivor ownership, beneficiary designations and “intestacy” (the will the state has written for residents who haven’t gone to the trouble). We hope that all our readers will choose one or both of the “four-star” techniques. Your thoughtful will is an integral part of your total estate plan, even if you have a living trust. Total coordination of all your assets – your life insurance, jointly owned property, retirement benefits, everything you own – is absolutely vital to a smooth-working estate plan. Remember that your life insurance and jointly owned property will pass independently of your will. You must relate each estate planning tool to the others to achieve your objectives. Good, Bad and Ugly Ways to Leave Your Estate
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