|Your Will: The Overlooked Bucket-list Item|
|News Releases - General Info|
|Written by Ginny Grimsley|
|Monday, 28 October 2013 14:57|
Financial Expert Explains the Vital Importance of this
Of the trendy terms to come around in the past decade, “bucket list” remains among the most useful, says retirement planning expert Jeff Gorton.
“As a neologism, I hope it endures because it reminds us of how precious our time is – and that it’s important to plan wisely,” says Gorton, a veteran Certified Public Accountant and Certified Financial Planner™, and head of Gorton Financial Group (www.gortonfinancialgroup.com)
“Unfortunately, after some have listed their items and even checked a few things off, they forget about one important item that really counts after they’ve ‘kicked the bucket’ – their will.”
Only about 40 percent of adults in America have a will, which is probably due to people not wanting to be reminded of their own mortality and that life will go on without them, he says.
“But what’s the alternative? If you die without one, the state decides what becomes of your property, without regard to your priorities,” says Gorton, who also advocates his clients make use of a written income plan (WIP), a living document that helps organize financial priorities. “Why not enjoy the fact that a will is an instrument of power? You get to decide who gets what.”
Since so many adults don’t have a will, many don’t understand how they work. Gorton breaks down wills into four basic parts:
“You’re not legally required to have a professional write a will for you, but I highly recommend you get certified help because these documents are often contested by people who are unhappy with the decisions you made,” he says. “After working a lifetime for your assets, you deserve to have them go where you want after you’re gone, and your family will be grateful to you for not leaving them with the headache of trying to sort out your estate.”
About Jeff Gorton, CPA, CFP®Jeff Gorton is a Certified Public Accountant and a Certified Financial Planner™ specializing in individual tax and retirement planning. He is also an Investment Advisor Representative under Alphastar Capital Management, an SEC Registered Investment Advisor, and has a life and health insurance license. Gorton works with individuals and their families to create and protect their financial legacies. He specializes in working with retirees in the areas of tax planning, benefits, retirement planning, estate planning and safe money techniques. He received his BBA in Accounting from the University of Oklahoma. Gorton previously worked for 10 years as the Chief Financial Officer for a large retail organization, overseeing their accounting, benefits and 401(k) retirement plans
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