Estate Planning

National Guard Family Program
Soldier with child riding piggyback Introduction to Personal Finance

An Overview for State Family Program Directors, Wing Family Program Coordinators, and Families.

 

Introduction

Evaluating Your Situation

Budgeting & Debt Management

Goals & Plans

Insurance & Disability Planning

Investment Planning

Education Planning

Retirement Planning

Estate Planning

 

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ESTATE PLANNING

 

8.

Introduction

 

8.1

Wills

8.2

Testamentary Trusts

8.3

Life Insurance Trusts

8.4

Charitable Trusts

8.5

Other Lifetime Gifts

8.6

Learning Check

8.7

Summary

 

8. Estate Planning – Introduction

Estate planning starts with a Will. If you die without

a Will, you lose the privilege of choosing how your assets will be

distributed.

Pen and paper

Instead, your state’s particular estate laws (called intestacy law)

will decide to whom your assets will be distributed and the amount

each person will receive.

You also give up the right to choose an executor (or personal

representative) to settle your estate and select a guardian for

your children. A state court will choose an administrator and guardian

for you.

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