ESTATE PLANNING

G-BM3Y9CNHXH

COMMITTED TO PROVIDING OUR CLIENTS WITH COMPETENT,

CARING AND EXPERIENCED SERVICES THAT PUT THEM FIRST!

OUR PROCESS

Estate Planning involves the design process to distribute your assets, to delegate your healthcare decisions, and to provide you and your family peace of mind.

 

Estate Planning is often associated with married individuals or families but is even more crucial for the unmarried. Estate Planning is for everyone, not just the wealthy. In the absence of a spouse or children, Estate Planning ensures your wishes are honored and assets are distributed efficiently with minimal State interference. Estate planning can be simple and affordable, saving you and your loved ones important resources during an emotional time.

WHAT IS AN ESTATE PLAN?

SET OF LEGAL DOCUMENTS THAT GUIDE DECISIONS RELATED TO

YOUR ASSETS, HEALTHCARE, AND FINAL WISHES.

KEY DOCUMENTS:

  • WILL

LIVING WILL

TRUST (OPTIONAL,

BUT RECOMMENDED)

DURABLE-POWER OF ATTORNEY

(FINANCIAL & HEALTHCARE)

PROTECTING YOUR LEGACY

YOU WORKED HARD, PRESERVE YOUR LEGACY

 

Estate Planning is not just for the wealthy; it is important for everyone.

By planning ahead, you ensure that your assets are distributed according to

your wishes, you protect your family, and you minimize your tax liability.

An Estate Plan preserves your legacy and gives your loved ones peace of mind.

Most importantly, an Estate Plan ensures your final wishes are fulfilled.

 

THE ESTATE PLANNING

PROCESS

WHERE DO YOU START?

Schedule a consultation:

During your consultation, we will discuss the intricacies of the plan, necessary documents required, and common costs associated.

Define Your Goals:

Who do you want to benefit from your estate? How do you want your assets to be allocated? Do you have any specific wishes?

Choose the Right Tools:

Depending on your goals, our team will provide guidance on which estate planning strategy best suits your needs.

Select Executors, Trustees, and Guardians:

Designate a person or person(s) who will execute your Estate Plan after your passing. You may also designate separate roles that may include the handling of unique financial decisions as well as medical incapacitation.

Review and Update Your Plan:

An Estate Plan should be updated given to any significant life event such as marriage, divorce, the birth of children, or the passing of a loved one. It is important for your Estate Plan to remain current amidst ever-changing life events, tax policies, and regulation updates.

ESTATE PLANNING

PITFALLS

COMMON ESTATE PLANNING MISTAKES TO AVOID

Not Having an Estate Plan:

Many people mistakenly believe they don't need an Estate Plan if they don't have significant wealth. However, everyone can benefit from having a plan in place to ensure their wishes are respected.

Failing to Update Your Plan:

Your Estate Plan needs to be updated whenever there are significant life events like marriage, divorce, the birth of children, or changes in asset values.

Choosing the Wrong Executor or Trustee:

The person you appoint as your executor or trustee should be someone trustworthy, organized, and capable of handling financial and legal matters. This may change.

Not Addressing Digital Assets:

Make sure to include instructions for digital assets like social media accounts, online banking, and other digital properties.

Probate Court Implications:

Without proper planning, the probate process can reduce the value of your estate by an average of 3% to 7%.

Conclusion:

 

Estate Planning is not just for the wealthy; it is important for everyone.

By planning ahead, you can ensure that your assets are distributed according

to your wishes, protect your family, and minimize wasteful spending on taxes

and fees. It's a step towards securing your legacy and giving yourself and

your loved ones peace of mind.