“Regardless of how much wealth you have,” says Gregory Popera, a private wealth adviser with Bank of America Merrill Lynch, “having some type of estate plan and financial power of attorney are sort of the financial building blocks to make sure your assets go where you want them to go.”
Making sure your heirs are taken care of once you pass is an important goal of estate planning. And you don't have to be among the wealthy to create financial stability for your loved ones.
The Washington Post recently discussed practical strategies for financial security in an article titled "How to pass money on to your children."