This webinar will be eye opening for single women, particularly single mothers (whether through death, divorce or other circumstances), explaining common mistakes when updating an estate plan without a spouse. Presenter, Rachael Burns, a Certified Financial Planner and Certified Divorce Financial Analyst, has teamed up with estate planning attorney Heather Johnston, a Certified Specialist in Estate Planning, Trust and Probate Law, to guide you through the decisions that need to be made to protect your wealth and your children following this pivotal life change. Attendees will learn how to avoid the following all too common mistakes:
The mistake: “Oh, I’m just going to name my brother as my beneficiary, and he will take care of it.”
The mistake: “Don’t worry, I updated my beneficiary to my two 12 year old twins.”
The mistake: “I heard I am not supposed to list my trust as a beneficiary on my retirement account, so I am just naming my children directly.”
The mistake: “I own part of a family property. It’s just a piece of land and not worth much. It doesn’t make any money. My family will figure it out if something happens to me.”
The mistake: “I have it covered. One kid gets the house, one gets my savings account and the other is a beneficiary on a life insurance policy. They are all about the same amount.”