Important Vehicles to Protect Your Loved Ones
Few people like to talk about death. For some, it is a dreary topic. For others, it breeds apprehension. The truth is, we all will pass from this life, and planning for your family’s future now allows your loved ones to grieve and move forward without the stress of complicated legal battles over your legacy. Even if you don’t think you have enough assets or wealth to worry about estate planning, keep in mind that everyone has something or someone they will leave behind. Do you want the state to determine who will receive your assets or take care of your children?
When you take charge of your future, you leave a legacy for your family. Avoid leaving beloved next of kin at the hands of a disinterested court, or worse, squabbling over your assets. An experienced professional at The Nowell Agency can discuss different options with you to help plan your estate and protect your family in the event of incapacitation or death.
Estate Planning Is Not Just for the Wealthy…or the Elderly
Many people believe that estate planning is just for the wealthy or only something you worry about when you are getting ready to retire. In reality, the exact opposite is true. Estate planning can be done at any stage of life, even when you are just starting out. Think of it as a way to establish a foundation for you and your family that can be tweaked and suitably modified as the years go by.
Accounting for Your Family’s Well-Being When You Plan Your Estate
Your estate includes tangible assets such as homes, vehicles, personal possessions, and also intangible assets such as bank accounts, investments, life insurance policies, retirement plans, and business interests.
Our agents and advisors at The Nowell Agency can help you navigate the variety of options you should consider, for instance,
- Life Insurance – Life insurance is one way to meet your family’s needs when you pass. When thinking about life insurance, keep in mind:
- How much life insurance you need – Having an adequate amount of insurance can help ease the transition for your family. If you have children, it becomes even more imperative that you have adequate coverage.
- The best type of life insurance for your situation – Deciding the best type of life insurance is a personal decision. A knowledgeable agent can help you make the best choice to protect your family and still fit your budget.
- Retirement Planning – Remember that your retirement plans could possibly benefit your spouse if they outlive you. Make sure your beneficiaries are kept up-to-date so that there is no interruption in benefits.
- Long-term Care or Disability Insurance – Do you know who will take care of you in case of an illness? When you plan for the possibility of needing long-term assistance or short-term disabilities, you ease the burden for your family.
Leave Your Family a Legacy When You Plan Your Estate
When you consult with a team member at The Nowell Agency, you can build the right legacy for your family. Our agents will work with you to build a portfolio of products that protect your family from the financial burden of potential illness and even death. We will be glad to discuss your estate planning needs and design a package for you.