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Frederick Eugene "Fritz" Mowery earned his bachelor of business administration from Texas Tech University in economics and finance. As an experienced financial advisory professional, he serves as the president and chief investment officer of Mowery Capital Management, LLC, an investment advisory firm located in Dallas, Texas. Fritz Mowery co-authored 21st Century Wealth, a book on wealth and estate planning.
Estate planning is when individuals designate who will inherit their assets and handle their financial responsibilities during incapacitation or death. The different tools an individual can use for estate planning include:
Last will
A last will is a legal document that enables an individual to decide who their estate's beneficiaries will be and the exact properties they will each receive. The most noteworthy feature of the last will is that it assigns a trusted executor to handle its implementation and the distribution of the properties.
A last will is a legal document that enables an individual to decide who their estate's beneficiaries will be and the exact properties they will each receive. The most noteworthy feature of the last will is that it assigns a trusted executor to handle its implementation and the distribution of the properties.
Living trust
This tool is perfect for people with significant properties and assets who need a property planning method that provides the highest degree of assurance that their estate will not be subject to the probate process. It is a legal agreement where individuals put their assets into the trust and enlist a beneficiary to inherit those properties when the trust maker dies.
This tool is perfect for people with significant properties and assets who need a property planning method that provides the highest degree of assurance that their estate will not be subject to the probate process. It is a legal agreement where individuals put their assets into the trust and enlist a beneficiary to inherit those properties when the trust maker dies.
Financial power of attorney
Another useful estate planning tool is hiring or designating a trustworthy individual to serve as a financial power of attorney to act on behalf of the individual whenever they are incapacitated. When the individual is incapacitated, the attorney oversees the estate's daily operations till the individual fully recovers.
Another useful estate planning tool is hiring or designating a trustworthy individual to serve as a financial power of attorney to act on behalf of the individual whenever they are incapacitated. When the individual is incapacitated, the attorney oversees the estate's daily operations till the individual fully recovers.
