Making a plan for what happens to your assets when you're gone may seem uncomfortable, but it can spare your loved ones a huge amount of money and conflict. On this week's episode of Decoding Retirement, Robert "Bob" Powell speaks with Colleen Carcone, director of wealth planning strategies at TIAA, about the essential steps you must take before creating an estate plan. Colleen discusses important documents, beneficiary designations, and the pros and cons of probate.

Yahoo Finance's Decoding Retirement is hosted by Robert Powell.

Find more episodes of Decoding Retirement at https://finance.yahoo.com/videos/series/decoding-retirement.

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