Stifel, Nicolaus & Company

A popular misconception regarding estate planning is that only the wealthy need to be concerned about the transfer of their assets. In reality, everyone should determine their goals and objectives for the transfer of their estate. In the event of your death, having a plan that clearly documents how your assets are to be distributed and who is to receive those assets is extremely important. Through estate planning, you can ensure your wishes are carried out as you had intended.

There are many types of estate planning tools, and your estate planning attorney can help you determine which tools are most appropriate for your situation. One valuable tool in estate planning is a trust. A trust is a set of instructions regarding how you would like your assets managed and then distributed to your beneficiaries. This legal document names an individual or entity (the “trustee”) who takes legal title to, and manages, the assets you transfer to the trust for the benefit of the persons (the “beneficiaries”) you specify in the trust document.

Many people look for the “secrets” to investment success. Is it timing the market just right? Is it finding those hot stocks or getting in on the “ground floor” of the next big thing? Actually, these types of moves have little relevance to the vast majority of investors — even the most successful ones. So let’s take a look at some steps you can take that can be effective in helping you work toward your financial goals.