Estate plans are crucial for passing wealth and assets to heirs – Business Insider

An estate plan can include a will, a trust, insurance contracts, or a power of attorney — all of these direct where, when, and how a person's wealth is distributed after they die. "They fall victim to a friend called procrastination, " the advisors write in their new book, "The Power of Generational Wealth: It's More Than Just Dollars and Cents." An estate plan is a way to formalize your intentions for the assets you leave behind when you die.

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