Completing Your Estate Plan

Be Fully Protected

With your life insurance and Will in place you will be well on your way to your complete estate plan. There are, however, several other safeguards you may want to consider depending on your life state and family situation. These include: 

Power Of Attorney - This is the assignment of responsibility before death, for making decisions on your behalf should you become ill or incapacitated. 

Living Will – This is a document that lays out your wish for medical treatment should you be unable to direct the medical team yourself.

Post-Mortem Letter – This letter would contain information that will make it easier for your executor to carry out your wishes. It includes the whereabouts of key documents, deeds, papers and accounts and names your lawyer, investment broker, and accountant. It might also include information on who to notify about your death, organ donor instructions and instructions on the care of pets. 

Tip: Life insurance is a key estate-planning tool. In addition to providing for the welfare of your survivors it can be used to finance the payment of estate taxes, pay funeral expenses and pay off debts. 

 

How Your Sagicor Advisor Can Help 

The legal and financial rules surrounding estate planning can be complex and can change suddenly. Your Sagicor Advisor can work with your lawyer to walk you through the basics of planning your estate and explain what steps to take to ensure you have the estate plan to serve your needs.

Tip: Be sure to revisit your estate plan every two to three years and when there is a major change in your life such as marriage, divorce, new child, grandchild, children reaching age of maturity, change in assets or change in tax laws.