ESTATE PLANNING IS A JOURNEY, NOT A ONE-TIME THING
You have worked hard to create a secure and comfortable lifestyle for your family and loved ones. Now is the time to take the necessary steps to protect their financial security after your death, and to preserve your estate and legacy for generations to come.
Without proper planning your assets could be distributed according to state and federal laws when you die. If you have minor children, a guardian would be appointed by the court without regard for your personal wishes.
What is Estate Planning?
Estate planning is a process that includes making choices about how your estate and personal affairs will be administered in the event of your death or disability. It involves deciding how and to whom you would like your assets distributed at death, while also incorporating strategies to minimize the impact of income taxes, estate taxes and, other estate settlement costs on the value of your estate.
Many of our clients believe the true wealth they leave behind is more than just the value of their estate – it’s the stories of their lives, the lessons they have learned, their values, and family heritage. Many believe these are the things that matter most and represent the real wealth they are able to leave for others.
Estate plans are documents that gather your thoughts and clarify your intentions for your future, and the future of the people you care about. A good estate plan can ensure your family’s financial needs will be met and your estate will be distributed to the people and organizations you want in the least costly and most efficient manner.
A good estate plan also addresses key life decisions
such as naming a guardian for your minor children, and appointing someone to manage your finances and healthcare choices when you are unable to do so yourself.
Estate planning is an ongoing process.
As tax laws change and as life situations evolve, it’s important to revisit your estate plan regularly.
- You are remembered the way you want to be remembered
- Those that depend on you have the resources they need to carry on
- Estate & income taxes and other transfer costs are minimized
- You avoid the unnecessary delays and expenses of probate
- Your estate is distributed to your beneficiaries in the manner in which you intended
- You are able to name a guardian(s) for your minor children
- If you become incapacitated, it’s clear how and by whom your personal care and finances will be managed and
- how health care decisions will be made