An estate plan will help you preserve assets, manage money during your lifetime, and facilitate the administration of your affairs after death. A well thought out estate plan can ensure that your estate passes to whom you want, when you want, and is carried out in the manner you’ve chosen.
Whether your assets are large or small, we can help you accomplish the following:
- Provide for your beneficiaries by protecting assets and ensuring distribution according to your wishes
- Minimize estate taxes and court costs
- Offer planning and direction to young children or grandchildren who may suddenly receive a large sum of money
- Choose an executor whom you trust and who knows your wishes, your family, and the contents of your estate, instead of relying on a court-appointed administrator
- Choose a successor for your business reducing the chance of a forced sale
Many individuals believe estate planning is the creation of a will. Having a will is a great first step, but it may be legally insufficient to reach your estate planning goals and objectives. A properly implemented estate plan should include:
- A valid, up-to-date will
- A power of attorney
- A health care power of attorney
- A living will
- An inventory of your estate
Estate planning is an involved process requiring the knowledge of experienced professionals. The team often includes your financial advisor, attorney, accountant, and insurance agent. The earlier you start, the more likely you are to have a comprehensive plan that will care for your heirs for many years to come.