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e ou e u e John Ripoll
Senior Vice President for Wells Fargo Advisors
ass it on lan for ransferring Wealth to the e t eneration Submitted by ells Fargo dvisors
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E unike Brady Head of the Home Lending frican merican Segment for ells Fargo
The homeownership journey is just that – an ongoing process that doesn’t simply start and end when you get the keys to your first home. In my role as the Head of the African American Segment with Wells Fargo’s Home Lending Diverse Segments team, I am responsible for creating and implementing strategies to address the disparity in wealth and homeownership that we face as a nation, with a specific focus on advancing Black homeownership. We are deeply committed to working hard to close the gap and create a more inclusive housing system. One way to do this is through education. In this year’s publication, we explore opportunities to build the knowledge and leverage the tools available to help provide confidence and support at each stage of homeownership. Continued on page
citizenne spapergroup com
A life of hard work and sacrifice offers the opportunity to leave a legacy that lifts up not only your family, but your community. There are important considerations as you approach financial planning to transfer wealth to future generations. Creating an estate plan is a foundational step. While it can seem intimidating, a team of trusted professionals, including a financial advisor, estate planning attorney, and accountant, can ask the right questions and help you avoid potential pitfalls. “Developing an estate plan is about taking control. You are directing how the assets you have accumulated over your lifetime are passed on to the people and organizations that you care about,” says John Ripoll Senior Vice President for Wells Fargo Advisors. Your situation’s complexity will determine which documents your plan requires however, these five are often included in an estate plan: A ill provides instructions for distributing your assets to your beneficiaries when you die. In it, you name a personal representative (executor) to pay final expenses and taxes and distribute your remaining assets. durable po er of attorney lets you give a trusted individual management power over your assets if you can’t manage them yourself. This document is effective only while you’re alive. health care po er of attorney lets you choose someone to make medical decisions for you if you are unable to communicate your wishes, or don’t have legal capacity to make treatment decisions for yourself. living ill expresses your intentions regarding the use of life-sustaining measures if you are terminally ill. It doesn’t give anyone the authority to speak for you. n More inside Page
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