The benefits of a partnership between a CPA and wealth adviser for guiding families through transition

bilities, accounts, and insurance;
Documenting online access and passwords (sometimes referred to as a “digital legacy”); and
Creating a centralized legacy binder containing essential paperwork, such as wills, trusts, powers of attorney, health care directives, financial records, and insurance details.

Q What should families understand about estate documents and updates?
A Wills, trusts, beneficiary designations, durable powers of attorney, health care directives, HIPAA authorizations, and executor designations should be regularly reviewed and kept current. CPAs and wealth advisers advise clients to ensure these documents align with their wishes and comply with current laws.
Q How should families prepare for potential incapacity?
A Recognizing signs such as memory loss, confusion, or an inability to carry out daily tasks can prompt urgent action. By establishing tools in advance, like a revocable living trust, springing power of attorney, or health care proxy, families can ensure that a trusted individual can step in to manage affairs when necessary.

Choreo, LLC is an investment advisor registered with the U.S. Securities and Exchange Commission (SEC). Registration as an investment advisor does not imply a certain level of skill or training of the advisor or its representatives. For more information, visit choreoadvisors.com.