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Estate Planning is the process of controlling your assets during your
life as well as after your death. Estate Planning is an ongoing
process. As tax laws change and life situations change, review of your
estate plan is crucial.Who Needs An Estate Plan?
Here are some examples of why estate planning is important for everyone:
 | For the young couple with children, it's crucial to have a will that
designates guardians for those children in the event both parents are
killed.
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| For people who think they think they don't have enough money to worry
about estate planning but have lots of life insurance: their death can
cause an estate problem.
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| And take the example of people who are injured in an accident and
suddenly aren't capable of making their own medical and financial
decisions. Their estate plans can name and individual who will make
those decisions for them. |
Where To Find More Information:
You can find the estate planning series at
www.cffm.umn.edu .
There are 10 fact sheets on topics such as establishing a will, distributing
estate assets, gifting assets, life insurance, and disposing of personal and
household items.
і
U of M Website, "U of M Estate Planning Series #1" "Estate
Planning Principals" 11/2003.
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