A Succession Plan for each Stage in Life When you sit down with a succession advisor at StateTrust Life and Annuities, the goal is to create a plan to suit your needs, taking into account your family structure and financial assets.
|Category||Succession Plan||Will||Guardian||Trust Fund||Life Insurance|
|Young and Single||No||No||No||No||No|
|Has partner but not married||Specify where assets will go since there is no marriage contract|
|Married with children||Specify who will be in charge of children in case of death||Appoint a guardian if parents are permanently absent||Create a Trust Fund||Buy Life Insurance|
|Has healthy assets||Plan to Protect assets||Must be updated||Orderly succession avoiding heavy taxation|
|Senior citizen||The plan is in motion||Wishes in case of death or total, severe, physical or mental disability||Has a Fund||Has Life Insurance|