can save you thousands of dollarsSuze Orman, one big proponent of this type of trust, says getting a revocable trust lets your estateif you die, and gives you and your loved ones more control over your assets if you were incapacitated.
Your assets may not even need to go through probate at all. If most of your wealth would be payable on death to a listed beneficiary, those assets will bypass the probate process whether you have a trust or not. That includes taxable accounts with listed beneficiaries, IRAs, and 401s, which, for many people, are where the bulk of their financial assets live.
If you are 40 years old in 2020 and plan to retire at age 65, you could select a 2045 target-date fund for your investments. As you get closer to your planned retirement date in 2045, the fund automatically adjusts its allocation to reduce equity exposure .
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