Federal Employee's CSRS & FERS Federal Civil Service Retirement
& Financial Planning Resources
Federal employees will find that estate planning is not as daunting a task as
many lawyers make it out to be. Most people, with estates worth less than the
federal estate tax threshold, currently $3,500,000, and who know what they want
to do with their assets and property can prepare their own estate plans using our
FREE comprehensive Estate
Planning Guide and the resources that we reference.
Estate Planning Menu
Your personal estate is very simply “your property” – all that you own – at
its current market value. The planning that is required does not require you to
be a mathematical wiz or rocket scientist – anyone with average intelligence can
plan their estate – even without an attorney. The key is to have the proper
references to help you through the process. I highly recommend the books titled
Plan Your Estate
to guide your step-by-step through this process
and the
The Executors Guide
to
help your loved ones settle your estate. I also used
Quicken WillMaker Plus
software to
complete my wills, trusts, health directives and powers of attorney. It was very
easy to use and update as things change. These two books and software are the ultimate
estate planning tools and they cover all states except Louisiana which has a legal
system based on Napoleonic Code. You can also visit your local library to review
these excellent resource. Many libraries have the two books in their reference
section. When I was completing my estate plan I used both book extensively,
highlighting important information, underlining text, and writing notes in the
margins. I refer to them as situations change and keep it on my reference shelf.
NOTE: Some situations require legal help such as providing
long-term care for disabled children. Also, if your estate will be subject
to estate taxes and/or you own a business you may wish to consult with a
professional. It is wise to review your plan with your attorney in these
situations and they can often add additional insight into your particular
needs and wishes. The key here is that you will have done much of the leg
work up front and your attorney fees should be considerable less if you go
through this process.
The planning that we propose is useful for estates of any size, from modest
to those who were fortunate enough to accumulate estates worth millions. This is
especially true for probate avoidance techniques. The guidance offered here and
in
Plan Your Estate
will help you avoid probate and understand estate
planning basics.
There is no one-size-fits-all prepackaged estate plan, everyone’s plan is
unique and personal. Going through this process will provide you with a much
better understating of your true net worth, your personal desires, and estate
planning vision. Estate planning pays big dividends up front that at first
glance seem transparent. By going through this process you will know who will
inherit, what they will receive, where all of your assets are now, your total
net worth, and it will help you focus on consolidating and simplifying your
estate so that you can start to better manager your assets TODAY. This was a
real eye opener for me when I went through this process.
This site along with the recommended books and software will help you address
your concerns including:
- Understanding wills and revocable trusts
- Probate avoidance techniques
- Compiling asset lists and important insurance and medical data
- Evaluating your retirement living expenses
- Calculating your pre and post retirement total income
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