• Wealth Management Division

August To-Do List

In August, we advise our clients to dedicate their time to preparing or revising their estate plans. Planning for your own impairment or demise is unpleasant, this is why many individuals avoid or postpone working on an estate plan. Still, this important yet simple task may save you and your loved ones from a lot of trouble later on. Some may believe that estate planning is not necessary for them since the estate tax exclusion is almost $12 million per individual. We believe that a simple estate plan, in which you designate who will inherit your wealth, act as a guardian for your minor children, and make critical choices on your behalf if you are unable to make them yourself, is essential for individuals of all ages and wealth levels. Inexpensive and straightforward online estate planning packages are becoming more widely available and may assist you in preparing your plan yourself if your situation is somewhat simple. However, many of us may have relatively complicated situations, which can involve special needs loved ones, our own business, or uncomfortable family situation, and will require the attention of a qualified estate attorney who can draft your plan according to your special circumstances.

For those of us who have or plan on opening retirement savings or other investment accounts should review their beneficiary designations. Many investors are not aware of the fact that the beneficiary designations for their retirement and investment accounts supersede the information laid out in their wills. Spend some time reviewing your will or trust and beneficiary designations to ensure the documents are in sync.


Have you heard about the digital estate? Yes, the estate is no longer just physical it rapidly becomes digital as well. Do you have a plan for your digital footprint? For example, do you know who will have control and be in charge of your social media or email accounts? Since social media and the internet, in general, are relatively new things in our lives, many of us do not consider it as a part of the estate plan, to say the least. Still, we are not saying that it is essential, having a plan for your digital estate can certainly complement your regular estate plan.


Even though estate planning is an unpleasant task to do, properly and, most importantly, a promptly drafted estate plan can prevent misunderstanding and prepare for a smoother transition.

The material on this page reflects PG Capital's professional opinions as of today and is subject to change. The information presented here has not taken into account any particular investor's investing goals or needs, and investors should not base their investment decisions entirely on this material. Past performance is not a guarantee of future results. All investments involve some amount of risk, and investors have different time horizons, goals, and risk tolerances, so consult with your PG Capital Financial Advisor before proceeding.

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