Estate Planning

Estate planning is an important step that will help formalize how you wish to settle your affairs. Without a plan in place to protect, preserve, and transfer assets, decisions about us and our property are made based on law – not according to our wishes. Additionally, our estate values could rapidly diminish due to estate settlement costs and taxes. Everyone should have a plan in place, no matter what income or wealth level.

Foundation of a solid estate plan:

• Last Will and Testament
• Living Will and Health Care Proxy
• Durable Power of Attorney
• Unlimited Marital Deduction
• Credit Shelter Trust
• A beneficiary audit 
  

While a Will can designate who receives assets, there are a number of strategies to transfer assets tax-efficiently, removing them from your estate while preserving their value for future generations.

• Gifts
• Irrevocable Life Insurance Trust
• Charitable Remainder Trust
• Dynasty Trust
• Note Sale to an Intentionally Defective Grantor Trust
  

Creating and implementing an estate strategy may seem like a long, time-consuming task, so it’s best to work with the right professionals to help strategize a plan that aligns your goals with your situation.