Estate Planning Basics: Protect Your Legacy

How will you leave your financial life? Neat and tidy or messy and tangled? Will you make it easy for your beneficiaries to keep living as they had? Or will you cost them time and money while their grieving?

Estate planning can simplify what goes to your heirs, how minor children are addressed and can avoid the six-plus months and costs of probate. While estate planning is often associated with complex legal documents and distant concerns, it’s simply your direction to how your assets and minor children are cared for.

At First South Financial, we’re committed to helping you take control of your financial future. That's why we’ve partnered with Trust & Will, a leading online estate planning service. Our members receive an exclusive 20% discount on any estate plan, making it easier than ever to get started.

What Is Estate Planning?

Estate planning involves creating a plan for how your assets will be distributed and your wishes carried out after your passing. A well-crafted estate plan can also include instructions for your care and financial management in the event of incapacity.

Key components of an estate plan include:

• Will: Specifies who will inherit your assets and who will care for your minor children, if applicable.
• Trust: Provides additional control over how and when your assets are distributed and can help avoid probate.
• Power of Attorney: Allows someone you trust to manage your finances if you’re unable to do so.
• Healthcare Directive: Details your preferences for medical care if you become incapacitated.

Why Is Estate Planning Important?

1. Avoids Probate: An estate plan can streamline the distribution of your assets, reducing legal complications and expenses.
2. Protects Loved Ones: Ensures your family is cared for and your assets are distributed according to your wishes.
3. Reduces Taxes: Proper planning can minimize estate taxes and preserve more of your wealth for your heirs.
4. Provides Peace of Mind: Knowing your affairs are in order can ease stress for you and your loved ones.

Common Misconceptions About Estate Planning

• "I’m too young for an estate plan." Estate planning isn’t just for older adults. If you own assets or have dependents, you should have a plan in place.
• "I don’t have enough assets to justify it." Regardless of the size of your estate, a plan ensures your wishes are honored.
• "It’s too expensive or complicated." Services like Trust & Will make estate planning accessible and affordable.

How Trust & Will Can Help

Trust & Will offers a simple, online solution to creating your estate plan. Their platform guides you through the process step-by-step, ensuring you have all the essential documents in place. As a First South Financial member, you’ll receive 20% off any estate plan, making it even more affordable to secure your future.

How to Get Started

1. Assess Your Needs: Consider your assets, dependents, and long-term wishes.
2. Choose the Right Tools: Determine whether you need a will, trust, or additional documents.
3. Leverage Your Member Benefits: Visit Trust & Will to access your exclusive discount and start building your estate plan today.

Protect Your Legacy Today

Estate planning is one of the most thoughtful gifts you can give to your loved ones. By taking the time to create a comprehensive plan, you’re ensuring that your family is protected, and your wishes are respected.

Let First South Financial and Trust & Will help you take this important step with confidence. Visit our website to learn more about estate planning and how to access your member benefits today.

Share: Share on Facebook: Estate Planning Basics: Protect Your Legacy Share on Twitter: Estate Planning Basics: Protect Your Legacy