Applying the K.I.S.S. Principle: – Simplifying Estate Planning

September 3, 2013

For members of the baby boomer generation, estate planning is about more than organizing their financial affairs. Many Boomers wish to create estate plans that leave a legacy and make a difference in the world. However, when considering these estate planning goals, Boomers might quickly become overwhelmed with the task at hand. A recent article offers simple tips for Boomers to get started on their estate plan and create their legacy.

The first step in creating an estate plan is making a list of all of your assets. This list should include all real estate, valuable personal property, insurance accounts, retirement accounts, the value of any trusts, and any amounts you expect to receive before you pass on. When making this list, be sure to note if any of these assets are tied to debt, such as a mortgage or lien on a home. After you list your assets, consider how you would like to distribute them, and who you would like your beneficiaries to be.

Next, consider who you would like to serve as your financial power of attorney. This is the person who is tasked with managing your financial affairs should you become incapacitated. Remember that incapacity can take many forms, such as mild dementia or an intensive hospitalization after an accident. You may limit this power if you wish. For example, you could provide a limited power of attorney to only handle your small business. With these important decisions, creating an estate plan will be essential in detailing your wishes should you become incapacitated.


Practice Areas:



Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Payment Portal
for Tax and Accounting invoice

This link offers a secure, quick way to complete your payment with Omni360 Advisors LLC.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts

Health Care: The Hidden Retirement Cost You Can’t Afford to Ignore

Health care is one of the most significant and often underestimated retirement expenses. Explore Medicare, long-term care, and tax planning considerations for affluent families. When most people think about retirement planning, they focus on investment ...

<p>The post Health Care: The Hidden Retirement Cost You Can’t Afford to Ignore first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

The Risks of Concentrated Stock: Evaluating Single-Stock Exposure

A concentrated stock position can significantly impact portfolio risk and tax planning. Explore considerations for executives, founders, and business owners managing single-stock exposure. Success often creates complexity. For business owners, executives, ...

<p>The post The Risks of Concentrated Stock: Evaluating Single-Stock Exposure first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>

2026 Social Security Changes: Tax and Benefit Considerations for High-Net-Worth Individuals

Review key 2026 Social Security updates and planning considerations for high-net-worth individuals, business owners, and multigenerational families. Social Security is often viewed as a baseline retirement benefit. For high-net-worth individuals and business owners, however, it can still play a meaningful role—particularly in the context of tax planning, ...

<p>The post 2026 Social Security Changes: Tax and Benefit Considerations for High-Net-Worth Individuals first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.</p>