Protect your family’s financial future

Setting your family up for long-term success means preparing for the expected and unexpected. The pandemic demonstrated how quickly unforeseen circumstances can disrupt our lives. It also showed the value of having a long-term plan in place to protect your assets and your family’s future. Estate planning is a key part of that protection.

Estate planning

Create and maintain these three essential documents

Estate planning is less complicated — and more crucial — than most realize. These documents help protect you and your loved ones. Meet with an attorney to set up these documents that can protect you and your loved ones.

Will, durable power of attorney, and advance health directive

Review your insurance options

Take a look at your current insurance coverages and decide what’s best for you. Whole life and term life insurance may help to provide for your family if you’re not there to support them. Long-term disability insurance can help preserve your family’s financial stability and fund your goals if you can no longer work.

Whole life, term life, and long-term disability

Keep your beneficiaries up to date

Make sure your bank and retirement accounts are titled in a way that matches your wishes (for instance, is it a joint or individual account?) and designate both primary and contingent recipients.Footnote 1 Remember to make any needed updates after major life events, such as births, deaths, marriages, and divorces.Footnote 2

Think strategically about taxes

Reducing taxes — for yourself and your estate — is a key part of wealth preservation. For tax questions, consult an accountant. If you’re planning to help fund college, consider plans that allow education savings to grow tax-free. You can also set up one of several types of trusts.


Share key details

Let your spouse or other trusted person know where your estate planning and insurance documents are located. If you’ve established trusts, explain how they work and describe your desire for those assets.

Discuss your plans with your heirs

While these can be challenging conversations, explaining your intentions can help keep them more positive for your family and help to ensure your wishes are met.

Click below for guidance on how to talk about your estate plan with loved ones. Learn more.
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