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Prudential Advisors
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Albany, NY 12204
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Legacy planning often isn't discussed until it's almost too late. Here are six sticky pitfalls you might face and strategies to steer clear of them.
Avoiding it: Host family discussions about your plans. Even if it feels awkward, sharing your intentions with your family can clarify expectations and minimize future disputes.
Avoiding it: Consult with a knowledgeable professional to draft comprehensive documents tailored to your situation. Make sure you revisit them periodically—life events like marriage, divorce, or the birth of a child can all shift what you need.
Avoiding it: To ensure more of your assets go to your loved ones instead of the IRS, explore strategies with a tax advisor to minimize your tax burden.
Avoiding it: Regularly review and update your beneficiary designations, especially after major life changes.
Avoiding it: Create a list of your online accounts and their associated passwords. Share this with a trusted individual, and consider addressing these assets in your estate documents for clarity.
b>Avoiding it: Don't underestimate the value of professional advisors. Work with yours to build a well-rounded plan that considers all aspects of your legacy.
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Securities offered through LPL Enterprise (LPLE), Member FINRA/SIPC, and an affiliate of LPL Financial. “Prudential Advisors” is a brand name for the proprietary retail sales channel of The Prudential Insurance Company of America (“PICA”) and its insurance company and other affiliates (collectively “Prudential”). Prudential Advisors financial professionals are licensed insurance agents of Prudential. Pursuant to a strategic relationship among Prudential, LPLE, and LPL Financial, Prudential Advisors financial professionals provide securities brokerage services through LPLE, an affiliate of LPL Financial. These financial professionals are permitted to brand under “Prudential Advisors.” LPLE and LPL Financial are not affiliated with Prudential.
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