|Different trusts have different objectives. For example, a revocable living trust can help you leave assets to your heirs without going through the probate process. And if you have a family member with a disability, you might want to think about a special needs trust. To protect children from an earlier marriage, you might want to consider an arrangement known as a QTIP trust.
You’ll need to work with a qualified legal professional before establishing a trust. You might also want to consult a financial professional for help in funding your trust with the appropriate vehicles. By using trusts wisely, you can leave a legacy that benefits everyone.
Do You Know Where Your Investments Are?
You can lose your gloves. You can lose your keys. But you’d never lose track of your investments, would you?
Actually, you might be surprised at just how many people do forget about investments or leave them behind when they move. Every state maintains unclaimed property offices to deal with millions of dollars worth of stocks, bonds, bank accounts, uncashed checks, pensions, 401(k)s and lRAs.
To avoid losing track of your financial assets, keep good records of all bank accounts and investments. Also, inform banks and brokerages when you move or change names.
Here’s one more tip: Cash stock dividend checks promptly, so you won’t lose them. If you don’t need the dividends, automatically reinvest them to build the number of stock shares you own.
Don’t let your hard earned financial assets slip away.
Contact Wendell at Edward Jones www.edwardjones.com.