Have you heard about the Great Wealth Transfer that is expected to occur over the next few decades? Baby Boomers have become the wealthiest generation in history and it is expected that over $30 trillion will be transferred to their heirs! This wealth transfer highlights how important estate plans have become. Even if there isn’t a great wealth to pass on, have an estate plan can clear up a lot of details that your family will need to know when the time comes.
North Coast Credit Union is launching the Love Your Family campaign this February to support members as they work on their estate plans. We’re inviting members to bring their families into their neighborhood branch so we can meet them. We’re also offering members a box to gather pertinent estate planning documents and some tips and checklists to help in the process. As always, we also offer free document notarization for our members.
Start The Conversation
Talking about finances and end of life plans can be difficult for both parents and adult children. For this reason, we have come up with a few tips to help start the conversation. Full list of tips can be found here: “It’s not Taboo. It’s Life. Let’s Start Talking About Estate Plans.”
Organize Your Account Details
With all of the accounts we have these days it can be difficult to keep them all straight. It is important to have all your information somewhere so you can access and share them as needed. You can use our Love Your Family Checklist to keep track of all of your important information: Love Your Family Checklist.