Estate Planning

Have you thought much about your legacy?  It speaks to how you wish to be remembered by family, friends, and the recognition of your contributions to your community and other causes.

Your legacy also includes the financial impact you plan to leave on those that you care about. Like most things in life, this requires careful planning, especially as to how your assets will be transferred efficiently to your heirs and the timing of the transfers.

In addition, a well-designed estate plan protects against the risks associated with losing your mental and/or physical capacities by appointing trusted agents to make important future medical and legal decisions on your behalf.

Estate and inheritance planning is complex, but the legacy benefits can be golden. Decisions regarding trusts, gifting, equitable inheritances and asset titling are just a few examples of common legacy goals addressed by thoughtful planning.

Yet an alarming percentage of Americans do not even possess a proper will or powers of attorney.  For parents with minor children without a valid will naming a legal guardian, the decision as to whom would raise your children in the event of their demise would be made by a judge – not good.

For more complex family situations, a trust confers a host of benefits, including privacy protection, control retention, probate avoidance, death tax reduction, asset protection and safeguarding assets for children.

No two estate plans are alike, and the time to perfect your estate plan was yesterday.

If you would like to learn how good estate planning can protect your wealth and family, please reach out to us sooner rather later.