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David P. McCabe,
WMCP®, ChFC®, CLU®
Financial Planner
Nathaniel D. High, RICP®
Financial Planner
Nicholas J. Over, CFP®
Financial Planner
Sara E. Martin
Client Relations Manager
Jennifer A. McCabe
Client Relations Specialist
jennifer.mccabe@prudential.com
Centuria Financial Group
2333 Baltimore Blvd Suite B
Finksburg, MD 21048
Phone: 443-952-7232
May/June 2022
Estate Planning: The Basics and Beyond
Like most people, you'd probably rather not think about a time when you're no longer around. Still, it's important to have a plan in place that relays your final wishes and gives directions for carrying them out. You may already have a will that describes how your possessions should be distributed and names a guardian for any minor children. However, that's only one piece of an estate plan.
Advance Directives
An advance directive is a legal document that specifies what actions should be taken if you aren’t able to make healthcare decisions yourself. A living will outlines the type of medical treatment you would or wouldn’t want at the end of life. A health care power of attorney (or health care proxy) appoints someone to make health care decisions on your behalf. It’s also important to designate a financial power of attorney who can conduct your financial affairs if you’re incapacitated.Beneficiary Designations
Some assets, such as retirement plan accounts and life insurance, are distributed to beneficiaries you list. Beneficiary designations supersede your will, so it’s essential that you review them periodically to make sure they’re up to date.Digital Assets
Without careful planning, photos, email accounts, and other online assets may be lost after your death. In addition to making sure passwords to all online accounts are stored offline, talk to your estate-planning attorney about the steps you may need to take to preserve digital assets.Your Pets
If you have pets, appointing a caregiver you trust for them in your will ensures that they’ll be taken care of after you’re gone. Caring for a pet is a big responsibility, so make sure the person you choose is willing.Letter of Instruction
A letter of instruction helps your executor or personal representative with the process of settling your estate. At a minimum, your letter should include: a list of your assets, account numbers and passwords; contact information for friends, relatives, legal and other professionals; bequests that aren’t part of your will, such as gifts of heirlooms; funeral preferences; and anything else you feel is important.1056787-00001-00
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Centuria Financial Group is not affiliated with Prudential Financial. Centuria Financial Group sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Centuria Financial Group is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Centuria Financial Group and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Sara E. Martin and Jennifer McCabe are employed by David McCabe and not The Prudential Insurance Company of America or its subsidiaries.
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