Estate Planning Tips Part 3

More Estate Planning Tips from Our Lawyer in Raleigh NC

Are you thinking of starting your estate plan or updating your current one so that it reflects changes in your life? If so, it’s important to do so soon. Below, you'll find a few tips that will help you estate plan in the right way, without any issues. If you have questions, feel free to contact our lawyer in Raleigh NC, today.
Eliminate Multiple Retirement Accounts
It’s likely you’ve changed jobs several times throughout the years. You may have different retirement plans open with previous employers. It’s important that you take some time to consolidate these accounts into an individual IRA or other account. While you’re living, having several different accounts likely won’t pose an issue. It’s after you’re gone that having multiple ones might cause a problem. If nothing else, you’ll eliminate unnecessary paperwork and make management of assets easier in the long run by consolidating your accounts now.
College Fund Accounts
Consider adding a college fund within your estate plan for grandchildren as this is a great way to help them save for their future education. Many colleges or universities do not consider these accounts when the student applies for financial aid or scholarships, either.
In addition, any withdrawal or growth of the account is tax-free, as long as it’s considered an education expense.
These tips will help you get a start on reviewing your financial status, as well as overall estate planning in Raleigh NC. This should be done once a year; especially for seniors. Consider using a spreadsheet to help you track and update each and every belonging you have to account for.
A lawyer in Raleigh NC can help you keep track of changes and updates, as well. If you’re ready to start taking charge of your estate plan, contact our law office, today.
If you don’t have an estate plan in place or haven’t reviewed yours in several years, now might be the best time to start. Our lawyer in Raleigh NC is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact us, to get started estate planning, today.

Eldreth Law Firm PC

As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our lawyer in Raleigh NC to schedule a consultation if you have yet to start estate planning. It's never too early to make plans for your wishes upon death. In addition, we are here to help you with all your legal matters, whether it be divorce, child custody, trademarking, copyrighting, or DWI issues.
If you missed our other blog posts in this series, be sure to visit back with previous articles, as well, to learn more:

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