Eight Essential Estate-Planning Tips
When you’re ready to begin estate planning, following these helpful tips will help simplify and streamline the process.
Get organized.
Write or update your will.
Organize all your financial files to
take account of everything you own
and everything you owe. File your
papers by category and weed out old
documents such as expired insurance
policies that have no possibility of
claims, outdated mutual fund annual
reports, and records from vehicles
you no longer own.
Any property you don’t leave
through these methods is governed
by the state intestacy laws. The
intestacy laws in most states make
no provisions for those who aren’t
related to you by blood, marriage,
or adoption. Consequently, you’ll
lose out on the chance to leave
anything to anyone unrelated to you
under the state definition, including
stepchildren, unmarried partners,
and friends.
Calculate your net worth.
Create a net worth statement. For
your assets, include the current value
of your home, vehicles, personal
property, savings, investments,
retirement accounts, and any life
insurance cash values or any other
assets. For your liabilities, include
any mortgage, credit card balances,
loans against life insurance policies,
or other outstanding debt. Then see
where you stand by subtracting your
liabilities from your assets.
Prepare for the possibility of
incapacity.
A durable power of attorney for
finances allows you to designate
someone you trust to manage your
financial affairs. A durable power of
attorney for health care allows you to
appoint someone to make decisions
about your medical treatment. And
a living will spells out your wishes
regarding the use of life-sustaining
procedures.
Check your designated beneficiaries
and how your assets are held.
Review your designated beneficiaries
on your investments, retirement
plans, annuities, and life insurance
policies. The designations on these
documents supersede your will
instructions. Also review the title
registrations on all your assets to
ensure they meet your current needs
and to ensure that your property will
be passed to your beneficiaries in the
most tax-efficient manner.
death form. With these designations
your beneficiary has no right to
the assets in your accounts until
your death, so you retain complete
control during your lifetime.
Consider whether trusts should be
part of your estate plan.
Technically, a trust is a legal
relationship in which a person or
trust company holds property for
the benefit of him or herself or
another beneficiary. Trusts can help
you avoid probate, make charitable
gifts, or help manage your affairs if
you become disabled. If you have
substantial assets, setting up certain
types of trusts also can help reduce
estate taxes.
Keep your plans up-to-date.
Review your plans to make sure
they still meet your needs and that
they comply with the new federal
and state estate tax laws. If you
experience significant changes in
your life, update your will and other
estate planning documents.
Take steps around probate with a
few forms.
For savings and money market
deposit accounts, checking accounts,
CDs/ certificates, and Treasury
securities, you can complete a
pay-on-death form. For brokerage
accounts, if allowed in your state,
you can complete a transfer-on-
PremierClub
Dear Premier Club Members,
As the new year begins, I’d like to take this opportunity to say thank
you for your Premier Club membership and for allowing me to serve
you again this past year. It has been my sincere pleasure to assist you
with your Premier Club needs, send you off on amazing adventures
around the globe through our travel program or learn alongside you
during periodic classes and workshops. I count being your Premier
Club Director a joy and I value our relationship!
I look forward to kicking off this year with some exciting trips and
information that will help you get your finances in order, and ways
that you can best protect your personal information. Your Credit
Union has recently rolled out a new Identity Theft Protection
product. As always, your member-owned cooperative is here to
help you manage your financial future!
Until next time,
Cathy Brorson,
C.U.D.E., Premier Club Director
Kitsap Credit Union
(360) 662-2153
[email protected]
Around The World In 90
Minutes - For FREE!
Want to get away but not sure where to go? Grab
your friends and join us for our next FREE Travel Night
event! Please join us for dinner and learn about the
exciting trips and tours your Credit Union is currently
offering. Whether you’re a seasoned traveler, or
maybe considering your first travel adventure, we have
a trip for you!
Join us on, Thursday, February 9th, to learn about
our upcoming trips, view the spectacular destinations,
and receive day-by-day itineraries of each trip. Our
representative from Collette will be on hand to answer
questions and provide detailed information about each
destination. A light dinner will be served. For your
convenience, we will meet at 6:00 p.m. Please call
Cathy at 360-662-2153 to register. We will highlight
the following trips:
Magical Rhine
and Moselle
September 8, 2017
Iceland’s Magical
Northern Lights
December 6, 2017
Taste of Vietnam
January 18, 2018
Spotlight on Tuscany
February 22, 2018
(This is not a secure email. Please do not
send confidential information)
AARP
Worried About Identity Theft?
Protect Your Future Today.
Smart Driver’s Classes
Kitsap Credit Union now offers an ID Theft Protection product, which is a proactive
identity theft solution that restores your identity if you become a victim of identity fraud – no matter
how long it takes. For more information, visit kitsapcu.org/idtheft or call (866) 762-7868 today.
P.O. Box 990, Bremerton, WA 98337 • (360) 662-2000 • (800) 422-5852 • kitsapcu.org
Q U A R T E R LY
January 17 & 18 • February 14 & 15
March 9 & 10
A publication of Kitsap Credit Union
January, February, March 2017
Trips, Tours & Activities
Extended Trips & Tours
ALL Collette trips include round trip airfare to/from
Seattle, hotel transfers, hotel accommodations, many
meals, air taxes and surcharges (subject to increase until
paid in full) and your cancellation and waiver insurance,
as noted in the individual trip itineraries.
Magical Rhine and Moselle
September 8, 2017
Cost: $4,599 per person,
double occupancy
Your tour opens in Amsterdam with a
“Welcome Aboard” dinner where you’ll
board your cruise ship and enjoy fabulous
amenities for a 7-night cruise along the
Rhine River. You’ll join a local expert for a city tour and board
your canal boat to cruise along the centuries-old canal system.
Next, you’ll visit Cologne where you’ll join a guide for a walking
tour of the city’s Old Town with it’s narrow, cobbled streets,
admire the Cologne Cathedral, Roams Dionysus mosaic and
the Romanesque church of St. Martin. Set sail on the Moselle
River to Cochem where you will join a guided tour through
this lovely town and Reichsburg Castle. The castle offers
breathtaking views of the Moselle Valley. At Cochem wine
cellars, taste regional Mosel wines. Continue on to Koblenz
and get to know this 2,000-year-old city on a walking tour.
Visit the town’s old quarter, which was badly damaged during
WWII, as well as the Schaengel Fountain at the town hall.
Next it’s on to Rudsheim for a tour of the city and its famous
Mechanical Music Museum where you’ll be treated to the
music of barrel organs and medieval instruments. The river
takes you to Manheim where you’ll have leisure time or can
indulge in an optional excursion
to the town of Heidelberg. Then
sail to Speyer, one of Germany’s
oldest cities, as you step back
in time on a walking tour of the
Old Gate and Jewish baths.
Enjoy food, entertainment and
music at the Captain’s Gala
Dinner. Head off to Strasbourg the provincial capital of France
that blends Roman, French, German and Alsatian influences
together, creating a unique character. Discover the history on
a guided city tour of “Petite France”, featuring the Cathedral of
Notre Dame. Highlights also include the Place de la Republique
and Place d’Austerlitz. Lots of exploration time before heading
to the Alsace wine region and
beautiful Colmar. Then drive to
Titisee, a German resort town
nestled alongside its picturesque
lake hidden deep in the Black
Forrest. Before dinner, learn from
a local artisan who demonstrates
the traditional techniques used to
make the region’s famous cuckoo
clocks to close out this fabulous
trip.
Iceland’s Magical Northern Lights
December 6, 2017
Cost: $3,199 per person,
double occupancy
Your tour opens in Reykjavik on a walking tour feature
Hallgrimskirkja Church, city hall, the harbor and Reykjavik’s oldest
building, now home to the Kraum Icelandic design center. After a
welcome dinner featuring Icelandic cuisine, take an exhilarating
northern lights cruise. Leave behind the bright lights of the
city and sail into the darkness of Faxafloi Bay in search of the
Aurora Borealis – one of nature’s wonders! Travel the incredible
Golden Circle, a route that encompasses many of Iceland’s most
renowned natural wonders. Journey to Thingvellir National
Park, the nation’s most historic area. Find yourself standing
on one of the globe’s most geologically significant landscapes,
Thingvellir’s rugged rift valley, marking the point where the
North American and Eruasian tectonic plates meet. Experience
the eruptive energy of the Icelandic landscape with
a stop at the geothermal fields of Geysis and
Strokkur. Then marvel at the beauty of the
Gullfoss (Golden Falls) waterfall, a stunning
100-foot double cascade. Also see the famous
and picturesque Seljalandsfoss waterfall with a
walkway behind it. Then you’ll visit Vic, Iceland’s
hideouts used during the war. Experience life on the Mekong
Delta. Learn about the country’s unique culinary traditions
during a cooking demonstration in rural Ky Sona, a cooking
class in Hoi An, and a visit to the Tra Que Herb Village. Stay
aboard a luxury junk boat on brilliant Halong Bay. Behold the
nation’s imperial past at the Thein mu Pagoda and marvel at
the haunting ruins of My Son Sanctuary. A new
colorful mosaic unfolds everyday as you make your way
through this fascinating land! More trip details will be
forthcoming in the next newsletter.
Spotlight on Tuscany
southernmost village, surrounded by beautiful valleys, beaches,
cliffs and mountains. Spend another evening seeking the elusive
northern lights. Take a drive along the scenic south shore to the
Eyjafjallajokull Volcano Visitor Centre to learn about a families
struggle after the dramatic 2010 explosion of the volcano that
brought European flights to a halt. Later visit Reynisfjara, a black
volcanic sand beach surrounded by basalt formations, cliffs
scattered with caves and rich bird life. See the unique natural
rock formations at Dyrholaey and after dinner, end the evening
searching out the northern lights, a truly spectacular sight.
Travel to Jokulsarion glacial lagoon, filled with floating icebergs
and Vatnajokull glacier, Europe’s largest. Then off to another
evening chasing the dancing northern lights across the sky. Your
final destination is the Reykjavik Peninsula, known for its rugged
landscape, lava fields, numerous hot springs and home of the
Blue Lagoon. Take a dip in the pleasantly warm, mineral-rich
waters of the geothermal pool, located in the middle of the
dramatic lava field. Your tour ends
with your farewell dinner.
Taste of Vietnam
January 18, 2018
Cost: $5,100 per person,
double occupancy
(approximate – prices being finalized)
Delve into an ancient and mysterious
world as you explore Vietnam’s rich
culture and complex history. At the
Vietnam War memorial park, tour
the Cu Chi Tunnels – underground
February 22, 2018
Cost: $3,200 per person,
double occupancy
(approximate – prices being finalized)
The rolling hills of Tuscany are
home to sprawling vineyards,
charming medieval hill towns
and enchanting cities steeped
in history, culture and legend.
Discover them for yourself
on this relaxing sojourn into
the Italian countryside. Visit
Florence, Siena, Pisa and San
Gimignano. Savor a 7-night
stay in Moneecatini Terme,
the famous resort and spa town. Enjoy free time to explore
the cultural treasures of Florence, including Michalangelo’s
“David.” Discover the charming town of Lucca, Italy’s best-kept
secret. Learn about the heroic
deeds of WWII at remains of the
Gothic Line and visit the Museum
of Liberation. Enjoy fabulous
local wines and the regions
famous cuisine. This is Tuscany as
you always imagined it! More trip
details will be forthcoming in the
next newsletter.