Personal Finance (Not Investing) • The reasons for having money outside tax-deferred

The same people that seem competent enough to manage multi-million dollar portfolios, do complex tax optimization analysis, etc., seem to become bumbling idiots when it comes to simplest legal matter.

Investing is easy the Boglehead way. The legal system is not. If you get your portfolio "good enough" you will probably be fine. You can always make adjustments. You can't make adjustments to your estate plan after you are dead.

I don't think you need to talk to a lawyer about every little thing. But your estate plan (and you have one by default with your state) is not a little thing.

Well said! All I have to do with my investments is "stay the course" and rebalance as needed.
Legal stuff is not my comfort zone (even though I have experience as an executor for my MIL and POA for my dad).
I have consulted a lawyer on estate planning matters three times in the last five years: once to redo our personal wills and twice to confirm POA and property management for my father's estate.
All three engagements were reasonably priced and I sleep well!

Statistics: Posted by mike@jb — Sat Jul 06, 2024 6:50 am — Replies 26 — Views 2630

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