Fong Law Group

從李玟的遺產案看長命契的利弊

如果不想留財產給子女，應否在信託剔除子女的名字

After a Dementia Diagnosis: Preparing for the Future

A diagnosis of dementia, a category of diseases affecting memory and thinking that includes Alzheimer’s disease, can feel overwhelming and upsetting. You might worry that you will lose control over your life and ability to make your own decisions. Fortunately, receiving a diagnosis of dementia or Alzheimer’s does not mean that you cannot execute legal documents or make decisions about plans for your future finances and health care.

People with dementia can execute legal documents to plan for their futures when they have the mental state — or capacity — to do so. Capacity refers to your ability to understand the contents of a legal document, such as a will, and know the consequences of executing it. If you know who your family is, understand your assets, and comprehend your will, you can execute a valid will and plan for the distribution of your estate after your death, provided you understand what you are signing and its effect on your life.

The following can help you in planning where you wish to live, what kind of care you receive, and what happens to your assets if you get severely ill or pass away.

Health Care Power of Attorney

Consider appointing a health care agent to make medical decisions if you become incapacitated. You can name a health care agent using a health care power of attorney, sometimes called a medical power of attorney or a durable power of attorney for health care. Your health care agent can make medical choices if you can no longer do so.

Picking someone you trust, such as a responsible child or spouse, or another family member, can give you peace of mind that they will have your best interests and desires in mind when they make decisions. For instance, dementia patients who prefer receiving in-home care can express this wish to their agent.

In the power of attorney document, you can also state your intentions regarding health care and limit your agent’s capabilities if you wish.

Living Will

For an added layer of protection, you can also draft an advance directive or living will that states your desires regarding medical treatment if you are unable to communicate with your physician. Your living will can express whether you want treatment to prolong your life.

Financial Power of Attorney

Using a financial power of attorney, known as a power of attorney for property, you can select a trusted individual to handle your financial affairs if your disease progresses such that you can no longer make financial decisions. Your financial agent can manage your money and pay bills on your behalf, but they cannot use your money for themselves.

In the power of attorney for property document, you can restrict your agent’s powers. For instance, a person might specify that the agent can manage personal accounts, but not sell the family home.

Long-Term Care Planning

After a dementia diagnosis, consider whether you would like to receive long-term care at home or in a facility, and whether you intend to apply for Medicaid or long-term care insurance. If you want to apply for Medicaid, you might need to prepare your finances to become eligible.

Last Will and Testament

Making a last will and testament, also known as a will, can help ensure your assets go to your family and friends when you pass away. You can determine how much of your money each beneficiary will receive and make bequests to individuals. For example, if you have items of sentimental value, you can leave them to specific people. Without a will, your assets will transfer to your heirs according to the law in your state.

Meet with you attorney to discuss your plans for your future. For additional support and to learn more about Alzheimer’s disease and related disorders, reach out to your local Alzheimer’s Association chapter.

If You Haven’t Been Regularly Reviewing Your Estate Plan, Start When You Hit 60 如果您沒有定期審查您的資產計劃，請由60歲開始 (中英對照)

How frequently you should review your estate plan depends on how old you are and whether there has been a significant change in your circumstances. If you are over age 60 and you haven't updated your estate plan in many decades, it's almost certain that you need to update your documents. After that, you should review your plan every five years or so. But if you're younger, you don't need to do so nearly as often.

Age

Here are a few age ranges and what they mean in terms of estate planning:

18-30   Everyone needs a durable power of attorney, health care proxy and HIPAA release so that they have people they choose to step in and make decisions for them in the event of incapacity.

30-40   Once you begin accumulating assets, get married, and have children, it's important to create an estate plan to care for your loved ones in the event of your death. It also can't hurt to update your durable power of attorney, health care proxy and HIPAA release, since the people you may have appointed at 18 (your parents?) may not be the people you want in these roles at 35.

40-60   Unless there's been a change in your circumstances, and assuming you've set a good plan in place during your 30s, you probably don't need to review your estate plan during your 40s and 50s.

60-70   Once you've hit your 60s, it's time to take a look. Your children are probably grown. You may have grandchildren. And, hopefully, you've accumulated some wealth. The people you appointed to step in in the event of incapacity when you were 35 may not be in a position to assist when you're 65. You may have retired or are contemplating doing so. And, unfortunately, the chances of disability or death increase with every year.

70+   Now it's time to review your plan every three years or so. Changes happen -- to your health and that of your loved ones, to the tax laws, to the programs supporting long-term care or disability care. It's important to have a plan in place and to adjust it as circumstances change.

Change in Circumstances

While the timeline above outlines when you should review and perhaps update your estate plan, it needs to be supplemented by the following potential changes in circumstances that would warrant a review of your plan to see if it still meets your goals and needs:

• Marriage. You're likely to want your assets to go to your spouse and to name him or her to be your agent in the event of incapacity.
• Divorce. Likewise, if you get divorced, you probably won't want your assets to go to your ex-spouse or to rely upon him or her to step in if you were to become incapacitated.
• Children. Once you have children, you'll want to provide for them and to name someone to step in as guardian in the event of your death or incapacity and that of their other parent, if any. Generally, once you have a plan in place you do not have to update it unless you have more children.
• Disability. If you or someone who would inherit from you becomes disabled, you will need to plan to protect and manage your assets, whether for yourself or for your beneficiaries.
• Wealth. If you accumulate sufficient assets to exceed the thresholds for state and federal estate taxes -- $11.4 million federally -- you may want to plan to reduce or eliminate such taxes.
• Moving. If you move to a new state or country, it will be important to have your estate plan reviewed to make sure it works in the new jurisdiction.

In short, until you reach age 60 or 70, reviewing your estate plan every five years probably is overkill. But do so whenever you have a change in circumstances such as those listed above. If you're over 60 and haven't updated your estate plan in many years, now's the time. Then, having a review every five years is definitely a good rule of thumb.

您應該多久審查一次您的資產計劃是取決於您的年紀以及您的狀況是否發生了重大變化。如果您年滿60歲並且幾十年來都沒有更新您的資產計劃，那幾乎可以肯定您需要更新您的文件。之後，您應該每五年左右檢查一次您的計劃。但如果你還年輕，你不需要經常這樣做。

年齡

以下是幾個年齡範圍及其在資產規劃方面的意義：

18-30每個人都需要財務授權書，醫療授權書和釋放醫療記錄同意書(HIPAA)，這樣在他們無行為能力的情況下便可由他們所選的人介入並為他們做出決定。

30-40一旦你開始積累資產，結婚生子，製定資產計劃是重要的，以便在你去世時仍能照顧你的家人。更新您的財務授權書，醫療授權書和釋放醫療記錄同意書(HIPAA)也百利而無一害，因為你在18歲時任命的人（你的父母？）到您35歲時可能不是你想要任命的人。

40-60 除非你的情況發生了變化，並假設你在30多歲時制定了一個很好的計劃，那你可能不需在40多歲和50多歲時審查你的資產計劃。

60-70  一旦你到了60歲，是時候看一看了。你的子女可能都已長大了。你可能有孫子。而且，希望你已經積累了一定的財富。在你35歲時您所指定的人在您沒有能力的情況下介入可能無法在你65歲時提供幫助。你可能已經退休或正在考慮退休。而且，遺憾的是，殘疾或死亡的可能性每年都在增加。

70+  現在是時候每三年審查一次你的計劃了。變化發生了 -- 您跟您家人的健康, 稅法，長期護理支援方案或殘疾護理計劃。制定計劃並隨著環境變化進行調整是非常重要。

環境變化

雖然上面的時間表概述了您應該何時審核並且可能更新您的資產計劃，但需要通過以下潛在的環境變化來補充，以便審核您的計劃，看它是否仍然符合您的目標和需求：

• 婚姻。您可能希望將您的資產轉給您的配偶，並在無行為能力時將其命名為您的代理人。
• 離婚。同樣，如果你離婚，你可能不希望把你的資產給你的前配偶或如果你變得無能為力時他們會成為您的代理人。
• 子女。一旦你有了子女，你便會想供應給他們，並且在你去世時或喪失工作能力時可以指定某人作為監護人。通常來說，一旦您制定了計劃，您無需更新計劃除非您有更多子女。
• 喪失能力。如果您或您的繼承人失去行為能力，您需要計劃來保護和管理您的資產，不管是為您自己還是為您的受益人。
• 財富。如果您積累足夠的資產以超過州和聯邦遺產稅的門檻 - 聯邦政府1140萬美元 - 您可能希望減少或消除此稅收。
• 遷移。如果您搬到別的州或國家，檢查您的資產計劃是重要的，以確保它在新的司法管轄區下仍然有效。

簡而言之，在您到60歲或70歲之前，每五年審查一次您的資產計劃可能就是矯枉過正。但是，只要你的環境發生了以上列出的變化，便要這樣做。如果您已年滿60歲並且多年沒有更新您的資產計劃，那麼現在是時候了。然後，每五年進行一次審查絕對是一個很好的經驗準則。

Lee Radziwill Leaves Estate to Daughter and Nothing for Caroline Kennedy and Daughter-in Law Carole Radziwill

“Lee Bouvier Radziwill's Last Will and Testament shows that her lone surviving child, Anna Christina 'Tina' Radziwill, will inherit her estimated $50 million estate.”

International socialite Lee Bouvier Radziwill, sister of the late First Lady Jacqueline Kennedy Onassis, has left her entire estate to her only living child, Anna Christina Radziwill. Neither of her nieces, Caroline Kennedy or her widowed daughter-in-law Carole DiFalco Radziwill, were given anything in the will, according to the Daily Mail’s exclusive article “Lee Bouvier Radziwill's Last Will and Testament shows that her lone surviving child, Anna Christina 'Tina' Radziwill, will inherit her estimated $50 million estate.”

It’s quite a contrast to Jackie Kennedy Onassis’ will, who generously instructed that each of Lee’s children were to be given $500,000. However, the relationship between the ex-princess and her daughter-in-law Carole allegedly waxed and waned, after her son Anthony’s death from cancer. Lee herself was said to be hard pressed for cash, because of an extremely extravagant lifestyle. However, her own mother had set up a trust for her benefit decades ago.

Radziwill’s last will and testament was signed on Sep. 20, 2018, less than five months before she passed away. She died at age 85 of apparent natural causes in her apartment in New York City.

Her daughter-in-law, Carole DiFalco Radziwill, had appeared on “The Real Housewives of New York City.”

Because her son Anthony predeceased his mother, her will stated that she has one child, named Christina. She directed her executors to sell her New York City co-op apartment as soon after her death as may be practicable and to dispose of the proceeds, as part of her estate. She split her time between New York City and Paris, where she kept an apartment that was sold in 2017.

Throughout her high-profile life, Lee would reportedly turn to her sister Jackie and ask for funds to finance her lavish lifestyle. In response, Jackie did not leave any money for her sister in her own will, explaining simply that she had provided for her sister during her lifetime.

Lee was married to three men, who left her substantial funds. The last was Herbert Ross, a wealthy director and producer. However, in her own will, light is shed on a trust set up for her by her mother, Janet Lee Auchincloss, a leading member of American society in Newport RI, and Washington, D.C. The trust was created in 1975, an agreement between Jackie as grantor and Lee and the U.S. Trust Company of New York as trustees and revealed that Christina becomes the beneficiary of this and any other trusts that are in her and her mother’s name. The value of the trust was not revealed.

The executor of Lee’s wills are two friends, one who lives in Cornwall CT and another who lives in Harding Township, NJ.

Lee’s relationship with her daughter-in-law received a nice grace note, when Carole wrote about her mother-in-law and said that even though her husband was gone and there were no grandchildren, which often bonds in-laws, Lee always introduced her as her daughter-in-law, and even after long absences, she never wavered.

Ironically, the first item in her estate states that all debts and funeral expenses be paid as soon as practicable, and that no extraordinary means or special accounting loopholes be taken to avoid paying any death taxes. That’s an interesting comment from someone who was blessed with wealth, glamour and connections, but never had enough money to fund her own lifestyle.

Reference: Daily Mail (March 29, 2019) “Lee Bouvier Radziwill's Last Will and Testament shows that her lone surviving child, Anna Christina 'Tina' Radziwill, will inherit her estimated $50 million estate.”

Is Will Planning the Same as Estate Planning? 遺囑規劃是否與資產規劃相同？(中英對照)

“To many, will planning and estate planning are the same. While the terms may seem interchangeable, they are actually very different processes.”

Will planning and estate planning are very different processes. Both provide family members with instructions on how assets should be distributed after death, but estate planning goes beyond that, to provide instructions on your health, finances and more while you are living, according to an article from Lexology titled “The Differences Between Will Planning & Estate Planning.”

An estate planning lawyer can help you determine exactly what kind of planning you need, help you create the documents that will support your needs and give you and your family guidance in more complex matters.

Will planning is a relatively simple process that involves creating a document known as a last will and testament. It conveys instructions for after you have died. That may include naming a guardian to rear your children or who should take over your business, who should be in charge of your estate, the executor and who will receive your assets.

Everyone needs a will. It avoids family disputes about property, saves money on legal expenses that occur when there is no will and makes many decisions about your estate much easier. It is a kindness to your loved ones, to have a will.

Estate planning is a little different. It is more detailed and involves tax planning and certain protections for you while you are living. A living will is used to convey your wishes about what kind of medical care you want, if you should become unable to speak on your own behalf. The living will includes end-of-life care, the use of extraordinary measures, like a respirator or feeding tube and more. This is also a kindness to your loved ones, since it spares them from having to guess what your wishes might be.

You’ll also want to have a financial Power of Attorney created to instruct a named person regarding how to handle your money, your business and your investments, if you are unable to function. This person can do anything you could do, from transacting business to moving money into accounts, etc.  

A living trust can be used to outline your wishes regarding your property and finances. An estate planning attorney will be able to review your assets and determine whether you need a living trust or if there are other trusts that may be more appropriate for your situation.

Beneficiaries are the individuals named on various accounts. They will receive assets directly from the institution that holds the assets, like insurance policies, retirement accounts, investment accounts and the like. It’s very important to understand that when there is a beneficiary named in a document, that beneficiary will get the assets, regardless of what your will says. These should be updated on a regular basis and if possible, you should always have a primary beneficiary and a secondary beneficiary.

An estate planning attorney will review your situation and talk with you about your goals for your family and your assets after your death. They will create a comprehensive plan with the necessary documents.  

Reference: Lexology (January 28, 2019) “The Differences Between Will Planning & Estate Planning”

“對許多人來說，遺囑規劃跟資產規劃是一樣的。雖然這些術語似乎通用，但實際上它們是非常不同的過程。”

遺囑規劃和資產規劃是非常不同的過程。根據Lexology的一篇題為“Estate Planning: Failed Testamentary transfers,”的文章，兩者都是為家人提供了有關在去世後資產如何分配，但資產規劃的範圍更廣，它包括有關您的健康，財務等方面的指示以及資產規劃。”

資產規劃律師可以幫您確定您需要什麼規劃，切合您的需求去建立文件，並在複雜的情況下為您和您的家人提供指導。

遺囑規劃是一個相對簡單的過程，涉及成立一個稱為遺囑的文件。它傳達了在你去世後的指示。這可能包括指定一名監護人來撫養您的子女或由誰接管您的業務，應由誰去管理您的遺產，遺囑執行人以及誰會繼承您的資產。

每個人都需要遺囑。它避免了有關財產的家庭糾紛，節省了在沒有遺囑的情況下發生訴訟時的法律費，並且更容易做出有關您的遺產的許多決定。成立遺囑是為您的家人設想。

資產規劃略有不同。它更詳細，涉及在您在生時的稅務規劃和某些保障。生前信託可在您不能為自己發言時傳達您希望得到怎樣的治療。生前信託包括生命末期照料，使用特殊設施，如呼吸器或餵食管等。這也是為您的家人著想，因為他們不用猜測你的意願。

如果您失去能力，您還需要成立財務授權書，以指示您指定的人如何處理您的資產，業務和投資。這個人可以做任何你能做的事情，從交易業務到將錢轉入賬戶等。

生前信託是概述您對財產和財務的意願。資產規劃律師將審查您的資產，並確定您是否需要成立生前信託，或者是否有其他信託可能更適合您的情況。

各種賬戶都有指定受害人。他們將直接從持有資產的機構中獲得資產，如保險單，退休賬戶，投資賬戶等。有一點非常重要,就是要明白不管您的遺囑的內容如何,這些文件上命名的受益人將獲得資產。這些文件應定期更新，如可能，您應要有主要受益人和次要受益人。

資產規劃律師將審核您的情況，並跟您討論在您去世後您對家庭和資產的意願。他們將製定一份包含必要文件的綜合計劃。

參考: Lexology (January 28, 2019) “The Differences Between Will Planning & Estate Planning”

Here’s Why You Need an Estate Plan in 2019 為何您在這年需要一個資產計劃 (中英對照)

“Besides new exercise regimes and attempts at savings accounts, from a legal perspective, the new year is the perfect impetus for tackling life’s perennial to-do list.”

The New Year sees young adult clients calling estate planning attorney’s offices. They are ready to get their estate plans done because this year they are going to take care of their adult responsibilities. That’s from the article “Estate Planning Resolutions for 2019: How To Be A Grown-Up in The New Year” in Above The Law. It’s a good thing, especially for parents with small children. Here’s a look at what every adult should address in the New Year:

Last Will and Testament: Talk with a local attorney about distributing your assets and the guardianship of your young children. If you’re over age 18, you need a will. If you die without one, the laws in your state will determine what happens to your assets, and a judge, who has never met you or your children, will decide who gets custody. Having a last will and testament prevents a lot of problems, including costs, for those you love.

Power of Attorney. This is the document used to name a trusted person to make financial decisions if something should happen and you are unable to act on your own behalf. It could include the ability to handle your banking, file taxes and even buy and sell real estate.

Health Care Proxy. Having a health care agent named through this document gives another person the power to make decisions about your care. Make sure the person you name knows your wishes. Do you want to be kept alive at all costs, or do you want to be unplugged? Having these conversations is not pleasant, but important.

Life Insurance. Here’s when you know you’ve really become an adult. If you pass away, your family will have the proceeds to pay bills, including making mortgage payments. Make sure you have the correct insurance in place and make sure it’s enough.

Beneficiary Designations. Ask your employer for copies of your beneficiary designations for retirement accounts. If you have any other accounts with beneficiary designations, like investment accounts and life insurance policies, review the documents. Make sure a person and a secondary or successor person has been named. These designated people will receive the assets. Whatever you put in your will about these documents will not matter.

Long-Term Care and Disability Insurance. You may have these policies in place through your employer, but are they enough? Review the policies to make sure there’s enough coverage, and if there is not, consider purchasing private policies to supplement the employment benefits package.

Talk with your parents and grandparents about their estate plans. Almost everyone goes through this period of role reversal, when the child takes the lead and becomes the responsible party. Do they have an estate plan, and where are the documents located? If they have done no planning, including planning for Medicaid, now would be a good time.

Burial Plans. This may sound grim, but if you can let your loved ones know what you want in the way of a funeral, burial, memorial service, etc., you are eliminating considerable stress for them. You might want to purchase a small life insurance policy, just to pay for the cost of your burial. For your parents and grandparents, find out what their wishes are, and if they have made any plans or purchases.

Inventory Possessions. What do you own? That includes financial accounts, jewelry, artwork, real estate, retirement accounts and may include boats, collectible cars or other assets. If there are any questions about the title or ownership of your property, resolve to address it while you are living and not leave it behind for your heirs. If you’ve got any unfinished business, such as a pending divorce or lawsuit, this would be a good year to wrap it up.

The overall goal of these tasks is to take care of your personal business. Therefore, should something happen to you, your heirs are not left to clean up the mess. Talk with an estate planning attorney about having a will, power of attorney and health care proxy created. They can help with the other items as well.

Reference: Above The Law (Jan. 8, 2019) “Estate Planning Resolutions for 2019: How To Be A Grown-Up in The New Year”

“除了新的制度和儲蓄賬戶，從法律角度來看，新的一年是解決常年待辦事項清單的最佳時機。”

新年時看到年輕的成年客戶打電話給資產策劃律師說他們已準備好完成他們的資產計劃，因為今年他們將為作為成年人而負上責任。這是來自“Estate Planning Resolutions for 2019: How To Be A Grown-Up in The New Year” 的文章。這是一件好事，特別是對於有子女的父母。以下是每個成年人在新的一年應該解決的問題：

遺囑：與當地律師討論如何分配資產和子女監護權的問題。如果你超過18歲，你便需要遺囑。如果你在沒有遺囑的情況下去世，那你所在州的法律將決定你的資產如何處置，而從未見過你或你的子女的法官將決定誰得到監護權。擁有遺囑可以為你所愛的人避免許多問題，包括費用。

財務授權書。這是用於命名您信任的人在您發生事情時並且您無法處理時為您做出財務決定。它可能包括處理您的銀行賬戶，提交稅收甚至購買和出售房子的權力。

醫療授權書。通過此文件命名您的醫療代理人去決定您的醫療護理。確保您所指定的人清楚知道您的意願。你想不惜一切代價生存下去，還是想要拔管？這種對話並不愉快，但很重要。

人壽保險。這就是你知道自己真的變成成年人的時候。如果您去世，您的家人將獲得賠償以支付賬單，包括支付貸款。確保你有正確的保險，並確保它是足夠的。

指定受益人。向您的雇主拿您的退休賬戶的指定受益人的副本。如果您有任何其他賬戶有指定受益人，如投資賬戶和人壽保險，請查看文件。確保已經有指定受益人和繼任受益人。這些指定人將獲得資產。儘管您把這些文件寫在遺囑上亦沒關係。

長期護理和殘疾保險。您的雇主可能提供這方面的保險，但這些保險是否足夠？檢查保單以確保有足夠的覆蓋範圍，如果不夠，請考慮購買私人保險以補助雇主提供的保險。

與您的父母和祖父母討論他們的資產計劃。當子女帶頭並成為負責任的一方時，幾乎每個人都經歷了這個角色轉換期。他們是否已有資產計劃，文件在哪裡？如果他們沒有做任何計劃，包括醫療補助計劃，現在是一個好時機。

葬禮安排。這可能聽起來很嚴肅，但如果你可以讓你的親人知道你想要您的葬禮，埋葬，追悼會等等如何安排，你就會為他們省卻不少煩惱。您可能想購買一份小額人壽保單，只是為了支付您的埋葬費用。對於您的父母和祖父母，了解他們的意願，以及他們是否有任何計劃或購買。

庫存擁有權。你擁有什麼？這包括金融賬戶，珠寶，藝術品，房地產，退休賬戶，可能包括船隻，收藏汽車或其他資產。如果您對您的財產擁有權或所有權有任何疑問，請在生時解決，不要將留給您的繼承人。如果您有任何未完成的事情，例如待批的離婚或訴訟，這將是很好的一年來作總結。

這些任務的總體目標是管理好您的個人事務。因此，如果發生了什麼事情，你的繼承人不用為您清理。與資產規劃律師討論成立遺囑，財務授權書和醫療授權書。他們也可以幫您解決其他問題。

參考: “Estate Planning Resolutions for 2019: How To Be A Grown-Up in The New Year”

Heading South after The Holidays? A Few More To-Do’s

“If you find yourself one of the successful snowbirds that we all envy, you may have already begun packing clothes and other necessities. Your car’s oil is likely changed, and you will not pull out of the driveway without a full tank of gas.”

Not everyone travels south for the winter in September. Many like to wait until after the holidays, so they don’t miss out on family gatherings. Then, on New Year’s Day or shortly thereafter, off they go, heading to a warm, sunny climate to enjoy the fruits of their labor.

If that’s your annual schedule, congratulations. However, before you go, advises LimaOhio.com in the article “Extra checklist before heading south for the winter,” make sure you’ve taken care of some personal legal business. It’s just four items—but they are very important tasks for snowbirds.

First, make sure that your general/financial power of attorney and healthcare power of attorney documents have been updated. Does your family have copies of these documents? Or do they have 24/7 access through a portal from your estate planning law firm?

Some law firms provide laminated cards for clients to give to family and friends that gives the holders of the cards access to these powers, while clients are out of town. Others are starting to use encrypted thumb drives, so that clients have documents wherever they go. Make sure you have these documents and that the people who will need them, either have them or can get them in a moment’s notice.

Second, review your living will with your estate planning attorney. Update them, if changes need to be made and get copies to your children and/or friends.

Third, make sure that your last will and testament is updated. Have you had any big changes in your life since the last time it was reviewed? Marriages, deaths, divorces, births and adoptions are the typical “trigger” events that signal a need for review. Who will have that document? If your estate planning attorney maintains original copies for clients, then make sure to have another original on your person or safely secured with a loved one.

Lastly, and this takes a little time but is well worth doing, create a list of all your assets. Make sure they are properly titled for your situation. Should you have all your bank accounts become Payable on Death to your spouse? When was the last time you checked your beneficiary designations? Chances are good there are beneficiary designations on your bank, investment, and retirement accounts and on your life insurance policies. Wherever you have a beneficiary designation, you should also have a contingency beneficiary.

Once you’ve gotten all your estate planning properly addressed, you’ll be able to enjoy the holidays and your warm weather fun, knowing you’ve taken care of these important matters.

Reference: LimaOhio.com (Oct. 13, 2018) “Extra checklist before heading south for the winter”