Alright, settle down folks! Listen up because Lazetta Rainey Braxton, the nased certified financial planner and co-founder of 2050 Wealth Partners, has something to say. According to her, while it’s great to keep an eye on the markets, don’t forget about the most important asset of all – yourself! Yes, you heard that right. Your good ol’ self. So, protect your money and your legacy, folks!

Now, don’t you dare leave everything to chance! Braxton says that having estate planning documents, like your will, which sets out who gets your assets after you’ve kicked the bucket, is a critical move. And, make sure to keep your beneficiaries updated! Otherwise, your cousin’s ex-wife might end up with your prized collection of life-size action figures. We wouldn’t want that now, would we?

In case you didn’t know, there are other assets that pass to your relatives through beneficiary designations such as bank accounts, 401(k) plans, and individual retirement accounts, along with life insurance policies and annuities. Apparently, 66% of adults in the USA don’t have a will, according to a 2023 survey by Caring.com, but don’t be like them. Be better folks! Get your estate planning game on!

Oh, and while we’re at it, it’s also important to have documents for powers of attorney. This means you can choose someone to make decisions for you regarding your finances or health care, in case you can’t. It’s kind of like picking your own superhero to save the day, except instead of saving the world, they’ll be saving your behind.

Listen up people, because this is important stuff. Lazetta Rainey Braxton just dropped some knowledge on us. Estate planning can be a ‘gift to your family’! So, go ahead and make a plan! Protect your assets, your legacy, and your behind. You’ll thank yourself, and your family will definitely thank you.

Serious News: cnbc