Retirement Watch Lighthouse Logo

Estate Planning

Estate Planning is the process of determining how your wealth and assets should be transferred to the heirs of your choice: your children, grandchildren, friends, families, charitable causes, etc. and then deciding which legal tools and structures to use to best meet your estate planning goals.

Estate planning is not simply reducing or eliminating taxes and avoiding probate.  Only after establishing how you want your estate’s assets to be distributed should you consider ways to reduce taxes and avoid probate. From there, good estate plans deal with a host of other issues. Now, with all but a few estates exempt from the federal estate tax, those other issues are, or should be, at the forefront of estate planning.

An estate plan is to ensure that you are taken care of the rest of your life and that your wealth is transferred to the people you want to have it. A good estate plan ensures these goals are accomplished with as much efficiency and as little cost as possible. An estate plan addresses the management and distribution of an individual’s property and financial obligations after he or she dies with financial tools such as wills, revocable living trusts and power of attorney.

For a comprehensive overview of Estate Planning, please start with our article:


Found 733 Articles.
Get access to our full article archive by subscribing to Retirement Watch and Retirement Watch Spotlight Series.

What You and Your Heirs Should Know About Powers of Attorney

February 23, 2021

Your estate plan needs an up-to-date power of attorney (POA), but it also needs more.You and your heirs need to know some things about the POA, both its uses and limits. You’ll also find that you need more than a POA for you and the estate to be protected.Bills must be paid and assets managed, […]

16 Estate Planning Mistakes People Make That You Need to Avoid

February 12, 2021

Estate planning has either been in the background or labeled an afterthought for many people in recent years. The reasons for that are fading. If you have not done so, it’s time to create or revise your estate plan. In this month’s Retirement Watch Spotlight Series, I take a detailed look at the most frequent […]

How to Handle Three of the Toughest Estate Planning Decisions

January 26, 2021

Some estate planning decisions are more difficult than others. Some of those decisions have the potential to cause problems, even tearing a family apart after the decisions are revealed.There are three especially difficult decisions that have the potential to cause long-lasting problems. Who inherits the personal items? Most estates have a lot of what the […]

estate planning

Understanding the Last Will and Testament

January 24, 2021

The terms “last will and testament” and “will” often are used interchangeably and today mean the same thing. Both refer to a legal document that outlines a person’s final wishes regarding the distribution of assets and property after death and often other matters, such as the guardianship of minor children. Will is often used as […]

SUBSCRIBE TO Lifetime Retirement Protection Program

Bob’s exclusive new service gives members the tools and knowledge to maximize their retirement finances for the rest of their lives. The Lifetime Retirement Protection Program includes all monthly issues of Bob’s Retirement Watch newsletter, all monthly video webinars in his Retirement Watch Spotlight service, every one of Bob’s premium reports and white papers (past and future), complete access to, and 90 days’ membership in Eagle Financial’s Click here now to access all of Bob Carlson’s research.

How To Simplify the Probate Process

January 10, 2021

In last week’s issue of Retirement Watch Weekly I presented 10 Steps to Avoid the Probate Process. Since this can be a complicated process, I’ll expand on those and explain the most commonly used probate forms. Probate can be a long and expensive process in which an estate is settled and distributed to the next […]

estate planning

10 Steps to Avoid the Probate Process

January 3, 2021

Happy New Year! A few months ago on the pages of Retirement Watch Weekly, I shared a story called: What You Need To Know about the Probate Process. This was a very popular topic with my readers, so I decided to expand on it. Let’s begin with a recap of exactly what probate is. In […]

Plan Today for Changes in Estate and Gift Taxes

December 17, 2020

Hesitate to revise or create your estate plan this year and you’re likely to regret it in a few years. The environment for estate tax planning is unlikely ever to be more attractive than it is now, as I’ve said before. The estate tax exempt amount is scheduled to be slashed in half after 2025 […]

estate planning

Guide to Wills: The Definitive Guide to Your Last Will and Testament

December 4, 2020

  Guide to Wills: The Definitive Guide to Your Last Will and Testament addresses one of the most important documents for guarding wealth, providing for loved ones, and achieving other goals.    Regardless of the size of an estate, the will is a critical part of an estate plan. It guides the distribution of assets […]


Log In

Forgot Password