The Power of Planning
State and federal estate taxes can significantly erode a family’s wealth over time—more so than income taxes.
This is especially true for individuals who live in high-tax states. We work with you and your attorney (if you do not have one, we have in-house attorneys) to create and execute a comprehensive plan for your unique needs and intentions.
Wealth Protection and Transfer Strategies
How you pass your wealth from one generation to the next directly impacts your taxes and the protections afforded in the event of a lawsuit, divorce, or bankruptcy. Dynasty Trusts and Private Trust Companies are just two ways we help address these concerns and sustain the viability of your estate.
Review of Wills, Trusts and Other Estate-Planning Documents
The first step to enhancing your estate plan is understanding where you are at today. Reviewing your existing documents helps us ensure all your assets are addressed, including investments, your home(s), jewelry and artwork, and identify opportunities for improvement. Once identified, we work with you and your attorney to close any gaps so you can feel confident your legacy and loved ones are protected.
Review of Beneficiaries and Titling of Assets
The type of asset and how it is owned impacts who receives your property after your death. For example, IRA accounts automatically pass to your beneficiaries. Any property owned jointly with rights of survivorship passes to the other owner. Our review helps ensure your assets are titled according to your intentions and that your beneficiary information is up to date
Coordination of Estate Plan with Life Insurance Coverage
Life insurance is more liquid than many assets you may own, making the proceeds a good source for paying estate taxes and other liabilities—leaving the rest of your estate intact. We help you determine the level and type of life insurance that’s right for you.
Charitable Planning and Gift Coordination
Should you make your gift now or in the future? Should you bundle your gifts together in one year? Does a Donor Advised Fund make sense for you? Should you make a monetary gift or donate investments or real property? We answer these questions and more to help you maximize the value of your gifts while minimizing taxes.
Congratulations on taking the next step to safeguard your family and all your life's work.
After all - everyone needs an estate plan!
Download our Estate Planning Guide
What Is Estate Planning?
Your estate consists of all the property you own, whatever it is worth, and wherever it is located. Planning involves a systematic development and updating of goals, policies, and procedures.
So, estate planning is the systematic development and updating of goals, policies, and procedures for all the property you own, whatever it is worth, and wherever it is located.
However, estate planning is not truly about things... it is about people. At the heart of estate planning, people are not as concerned about what happens to their assets as they are more naturally concerned about what will happen to their family.
What will life look like for my family...
- When I Die?
- During My Old Age?
- If I Experience A Prolonged Illness Or Go Through A Period Of Incompetency Or Incapacity?
Proper estate planning allows you to:
- Preserve your estate for your spouse and your heirs and stay in control for as long as possible,
- Direct who is going to receive your estate, including when and how much your beneficiaries will receive, and
- Accomplish all of this while avoiding unnecessary fees, costs, and commissions.
Instead of worrying about the many ways that this process can go wrong, make a good start by deciding today to work with a professional. You can avoid needless costs, delays, and frustration if you make a plan for your estate now.
Everyone Needs An Estate Plan
Along life's road there are few things more concerning, but less attended to, than estate planning. Nearly everyone has done some measure of insurance planning, investment planning, and retirement planning. Some people have spent their energy and resources building wealth and financial security by owning and operating a business. Sadly, however, all of this planning and hard work can come crashing down and the losses can be catastrophic without a comprehensive estate plan.
Rest assured, the time and cost of implementing a plan now is far less than the enormous cost both financially and emotionally if this important matter is neglected. Perhaps you have already witnessed or been a part of the dreadful process of settling an estate where proper planning was not done. If so, you already know the immense importance of a well-executed estate plan.