The Investor's Guide to Estate Planning

Simple Steps to an Estate Plan

Estate planning can be complex. A good plan should be tailored to your personal goals and wishes. In this guide, we introduce some basic concepts and highlight options to consider when planning your estate. However, please understand these options are not exhaustive, nor are they personalized to your situation. We recommend contacting an attorney or estate planner to establish your own plan. As a Fisher Investments client, you would get a service team that can provide a range of materials to help you understand and select estate planning options. If you would like to make changes to your estate documents, we can connect you with a vetted attorney in your area.

Planning for Your Estate

The Basics

Specifying what will happen to your estate after you pass away can help give your loved ones peace of mind when they need it most. If you pass away without a will, living trust or other estate-planning document, the court system may be responsible for dividing your estate and deciding who will receive those assets. Dealing with poorly managed plans can be stressful for families. Though it may take some forethought and paperwork now, your beneficiaries may benefit if you have a clearly defined plan. This process can start as early as you like. There are many ways to implement your estate plan and the best way for you largely depends on your individual situation. 

Creating Your Plan

If you plan to leave assets to family, friends or charities after you pass away, here are some questions to get started:

• How much money do you want to pass on?
• Who should inherit your assets?
• How should they inherit them?
• When should that transfer take place? 
   

Explore Ways to Implement Your Plan

Wills

A will is a legal document that allows you to name someone—called an executor—to manage your estate after you pass. Your will can be as broad or detailed as you like, and you may be able to name specific inheritors of certain assets. These documents can be helpful for those with relatively straightforward estate plans, and they may be good starting points for others. If you only have a will, your estate may still have to go through probate. Probate is a court-supervised process that oversees the transfer of assets when you die and protects the rights of your creditors and beneficiaries. Some people may plan for their estate to go through probate as it provides a standardized process and court supervision.