Learn the Steps to Creating a Good Estate Plan
The very first step in building a good estate plan is to determine your net worth. It's relatively easy to make a quick calculation of your net worth by adding up rough estimates of the values of all of your assets - including bank and investment accounts, personal property (jewelry, collectibles, cars, boats), retirement plans (401ks, IRAs), death benefit of life insurance, business interests, monies owed to you, oil and mineral rights, and real estate - and then subtracting from this total all of your liabilities - including credit card debt, car and other personal loans, and mortgages.
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: Julie Ann Garber
Original Article Posted on: January 20, 2021
Link to Original Article: https://www.thebalance.com/creating-good-estate-plan-3505162