{"id":1637,"date":"2021-06-20T12:00:00","date_gmt":"2021-06-20T12:00:00","guid":{"rendered":"http:\/\/cashvisory.examinia.com\/?p=1637"},"modified":"2021-06-20T14:05:18","modified_gmt":"2021-06-20T14:05:18","slug":"how-life-insurance-can-enhance-your-estate-plan","status":"publish","type":"post","link":"https:\/\/www.cashvisory.com\/blog\/how-life-insurance-can-enhance-your-estate-plan\/","title":{"rendered":"How Life Insurance can enhance your Estate Plan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1637\" class=\"elementor elementor-1637\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-313d6351 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"313d6351\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-28182be3\" data-id=\"28182be3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ee16d9b elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6ee16d9b\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-50fd2f8a elementor-widget elementor-widget-text-editor\" data-id=\"50fd2f8a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Key Takeaways<\/strong><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><strong>An adequate estate plan will include all details on how one\u2019s assets should be preserved, managed and distributed upon their demise.<\/strong><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Life insurance proceeds are the fastest way of getting access to cash payouts which are crucial to settle any outstanding debt, taxes and other immediate expenses such as funeral arrangements.\u00a0<\/strong><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Life insurance helps to even out the assets that differ significantly in value so that none of the beneficiaries are shortchanged in what they receive.<\/strong><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><strong>Instead of hoarding all the wealth, set aside a small portion of your income into life insurance and enjoy the lifestyle you deserve with the peace of mind that your insurance will provide sufficient support to your family upon death.<\/strong><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-684f25b3 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"684f25b3\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33bde88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33bde88\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bfc7e78\" data-id=\"bfc7e78\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1868472 elementor-widget elementor-widget-text-editor\" data-id=\"1868472\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In our recent posts, we have discussed <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/heres-why-you-should-do-your-estate-planning\/\"><span style=\"font-weight: 400;\">why estate planning is critical for everyone<\/span><\/a><span style=\"font-weight: 400;\">, and the <a href=\"https:\/\/www.cashvisory.com\/blog\/how-estate-planning-creates-value-for-generations\/\">benefits we derive from having an adequate estate plan<\/a>. The question now is, how do we make arrangements for all of our wealth that we worked so hard for, to go to our loved ones and to the causes we care about? What can be the least painful and hassle-free manner to bring this idea to fruition? While each individual will have their own way to go about it based on their own requirements, we must first understand what steps are involved in estate planning and then chart out the best suited plan for our own needs.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cb909ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cb909ed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31e74fc\" data-id=\"31e74fc\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9cf8e94 elementor-widget elementor-widget-heading\" data-id=\"9cf8e94\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to go about Estate Planning?\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4446dd7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4446dd7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-fb13a31\" data-id=\"fb13a31\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9f307d8 elementor-widget elementor-widget-text-editor\" data-id=\"9f307d8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">An adequate estate plan will include all details on how one\u2019s assets should be preserved, managed and distributed upon their demise. Of course, all these details need to continue being updated in line with changes in one\u2019s life, such as acquisition of new assets, inclusion of new beneficiaries (upon marriage and having kids), and so on.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-291fecc elementor-widget elementor-widget-text-editor\" data-id=\"291fecc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Generally speaking, estate planning may involve, in no particular sequence, setting up a trust, writing up a will, assigning a trustee (for the trust) and an executor (of a will), establishing joint ownership of assets and liabilities, formulating power of attorney and getting life insurance. Each of these components vary in terms of the purpose they serve, the resources needed and the processes involved. Hence, it only makes sense to tend to one topic at a time.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-c7ce92f\" data-id=\"c7ce92f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d8c753 elementor-widget elementor-widget-image\" data-id=\"9d8c753\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"887\" height=\"857\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png\" class=\"attachment-large size-large wp-image-1674\" alt=\"estate planning\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png 887w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4-300x290.png 300w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4-768x742.png 768w\" sizes=\"(max-width: 887px) 100vw, 887px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-75adc51 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"75adc51\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-69a7306\" data-id=\"69a7306\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a0881b7 elementor-widget elementor-widget-heading\" data-id=\"a0881b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Importance of Life Insurance in Estate Planning\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cad4700 elementor-widget elementor-widget-text-editor\" data-id=\"cad4700\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">In today\u2019s post, we\u2019ll be focusing on one of the more straightforward topics &#8211; <\/span><a href=\"https:\/\/www.cashvisory.com\/blog\/life-coverage-the-most-important-financial-product-youll-ever-buy\/\"><span style=\"font-weight: 400;\">life insurance<\/span><\/a><span style=\"font-weight: 400;\">. Although it may seem to serve the sole purpose of meeting the needs of your loved ones post your demise, it is actually a key component of your estate planning. Let\u2019s understand its role in more detail.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-71db8f7 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"71db8f7\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dc55453\" data-id=\"dc55453\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9e6aea6 elementor-widget elementor-widget-heading\" data-id=\"9e6aea6\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Immediate cash to settle outstanding liabilities\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-388d5b6 elementor-widget elementor-widget-text-editor\" data-id=\"388d5b6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Life insurance proceeds are the fastest way of getting access to cash payouts which are crucial to settle any outstanding debt, taxes and other immediate expenses such as funeral arrangements. This provides the family some time to figure out distribution of other assets whether or not a will is in place. Usually, execution of a will could take up to a few months. Moreover, the liquid cash in the bank accounts are frozen upon a person\u2019s death &#8211; only to be released according to instructions in a will, or relevant succession act (which may be based on the deceased\u2019s religion or Indian Succession Act 1925) in the absence of a will. In such cases, a life insurance claim is a huge relief for a grieving family who need to take over and manage all the financial matters.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-790b76c elementor-widget elementor-widget-image\" data-id=\"790b76c\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"236\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image1-2-768x236.png\" class=\"attachment-medium_large size-medium_large wp-image-1641\" alt=\"life insurance payout\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image1-2-768x236.png 768w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image1-2-300x92.png 300w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image1-2.png 812w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e66a7bc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e66a7bc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ac457f0\" data-id=\"ac457f0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dead2b2 elementor-widget elementor-widget-heading\" data-id=\"dead2b2\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Even distribution of wealth <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-812a9de elementor-widget elementor-widget-text-editor\" data-id=\"812a9de\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Life insurance helps to even out the assets that differ significantly in value so that none of the beneficiaries are shortchanged in what they receive. Let\u2019s say a businessman owns a company (worth Rs 7 crores), a residential property (worth Rs 5 crores) and an investment property (worth Rs 4 crores), along with some liquid investments (say Rs 2 crores). If the person wants to divide these equally amongst his 4 beneficiaries, first of all the business and properties will need to be liquidated, and only then can the proceeds be divided accordingly. Not only will it be a tedious process, but will also be subject to market volatility, which could mean that one may not get a fair value for the asset. In such a case, if the individual has say a life insurance worth Rs 10 crore,\u00a0 it can be split such that the assets of lesser value (Rs 5, 4 and 2 crores) can be supplemented in order to match up to the one with the highest value (Rs 7 crores), such that each of the beneficiaries end up with an equal inheritance worth Rs 7 crores.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e6fec9 elementor-widget elementor-widget-image\" data-id=\"5e6fec9\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"768\" height=\"357\" src=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image3-768x357.png\" class=\"attachment-medium_large size-medium_large wp-image-1642\" alt=\"inheritance amount with and without life insurance\" srcset=\"https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image3-768x357.png 768w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image3-300x139.png 300w, https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image3.png 978w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e438de elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2e438de\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-af264c2\" data-id=\"af264c2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d7134ea elementor-widget elementor-widget-heading\" data-id=\"d7134ea\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Enhancing the inheritance amount\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-324d449 elementor-widget elementor-widget-text-editor\" data-id=\"324d449\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The challenge of limited resources and unlimited needs is no different when it comes to planning our legacy. The portion of our income and wealth that we consume in our lifetime directly impacts the <\/span><a href=\"https:\/\/www.investopedia.com\/terms\/b\/bequest.asp\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">bequest<\/span><\/a><span style=\"font-weight: 400;\"> amount that we leave behind. Should we then compromise on our lifestyle so that we can leave behind a bigger inheritance in the interest of our family members? Thankfully, there is a better way. Instead of hoarding all the wealth, set aside a small portion of your income into life insurance and enjoy the lifestyle you deserve with the peace of mind that your insurance will provide sufficient support to your family upon death. As illustrated in the earlier example of the businessman, the inheritance sum was enhanced from 18 crores to 28 crores with the use of life insurance.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8d0ded9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8d0ded9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bf46528\" data-id=\"bf46528\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d579a1c elementor-widget elementor-widget-heading\" data-id=\"d579a1c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Bottom Line\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ea8c6f0 elementor-widget elementor-widget-text-editor\" data-id=\"ea8c6f0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Life insurance proceeds can form a significant chunk of your estate. Not only is it an essential part of estate planning, it\u2019s also one of the easiest steps to get started with. To lay the right foundation for your estate plan, buy an appropriate insurance plan that meets your family\u2019s needs, upgrade your coverage with changing life stages and keep your nominations up to date.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3d3183e elementor-widget elementor-widget-text-editor\" data-id=\"3d3183e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">With Cashvisory, you will be able to plan for your insurance needs and manage these plans all in one place. Stay tuned to learn more on the other topics related to estate planning, and how we can help you with those!<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Key Takeaways An adequate estate plan will include all details on how one\u2019s assets should be preserved, managed and distributed upon their demise. Life insurance proceeds are the fastest way of getting access to cash payouts which are crucial to settle any outstanding debt, taxes and other immediate expenses such as funeral arrangements.\u00a0 Life insurance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1,33],"tags":[],"class_list":["post-1637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","category-personal-finance"],"uagb_featured_image_src":{"full":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png",887,857,false],"thumbnail":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4-150x150.png",150,150,true],"medium":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4-300x290.png",300,290,true],"medium_large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4-768x742.png",768,742,true],"large":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png",887,857,false],"1536x1536":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png",887,857,false],"2048x2048":["https:\/\/www.cashvisory.com\/blog\/wp-content\/uploads\/2021\/06\/image4.png",887,857,false]},"uagb_author_info":{"display_name":"Admin","author_link":"https:\/\/www.cashvisory.com\/blog\/author\/admin\/"},"uagb_comment_info":9,"uagb_excerpt":"Key Takeaways An adequate estate plan will include all details on how one\u2019s assets should be preserved, managed and distributed upon their demise. Life insurance proceeds are the fastest way of getting access to cash payouts which are crucial to settle any outstanding debt, taxes and other immediate expenses such as funeral arrangements.\u00a0 Life insurance&hellip;","_links":{"self":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/comments?post=1637"}],"version-history":[{"count":12,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1637\/revisions"}],"predecessor-version":[{"id":1677,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/posts\/1637\/revisions\/1677"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media\/1674"}],"wp:attachment":[{"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/media?parent=1637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/categories?post=1637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashvisory.com\/blog\/wp-json\/wp\/v2\/tags?post=1637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}