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The Shakiba Report: 5 reasons why you need a will

Houston private wealth advisor shares the benefits of estate planning

HOUSTON – If you're wondering if you will ever need a will, the answer is probably yes. 

Creating a will may not be the most exciting thing to talk about, but there can be serious consequences for not putting one together.

Private wealth advisor, Trevor Shakiba shares 5 reasons why you need a will in today's Shakiba Report.

Who needs a will? Really the answer is everybody, almost without exception.  What's really interesting is this is the most over looked aspect of financial planning, and usually when I meet with people for that first time I would say 90% of people have not given any thought to estate planning at all," said Shakiba.


THE SHAKIBA REPORT 

WHO NEEDS ESTATE PLANNING?

  • The short answer is everyone
  • Estate planning is the most ignored area of financial planning
  • Over 90% of people Trevor meets will have done zero estate
  • planning
     

WITHOUT A WILL YOU LOSE CONTROL OF WHAT GOES WHERE 

  • State law controls without a will
  • Consider ancillary documents as well
  • What do you want to happen? When? And to whom do you want to benefit?
     

HOW MUCH FAITH DO YOU HAVE IN YOUR KIDS?

  • 85% of inherited IRA's are cashed in within 2 years of IRA owner's death
  • We never want unnecessary dollars going to Uncle Sam
     

TEXAS IS A COMMUNITY PROPERTY STATE

  • Money earned by either spouse during marriage is owned equally along with property acquired
  • Texas is a great state to live in but not a great state to die in if you don't have your affairs in order
  • For example, debts can still be owed after the debtor is deceased even if there isn't enough money in the estate
     

ESTATE PLANNING IS CRITICAL WITHIN A COMPREHENSIVE FINANCIAL PLAN

  • Be careful doing it yourself on this one
  • Seek out professional help and look for a certified estate planning and probate attorney
  • Don't have a financial plan or will, get one
     

For more information or to request a complimentary consultation with The Shakiba Group, click here or call 281-724-9917.

The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations. 
 

Sponsored by The Shakiba Group