Wealth Management

Building an Estate Plan

A well-designed estate plan can play an important role in helping to secure your retirement income and determine who inherits those assetrs and how they receive them. It enables you to designate beneficiaries, appoint an individual to act on your behalf, and manage potential tax liabilites, to ensure that you maximize the value of your estae that is transferred to heirs.

Tools for Managing and Distributing Wealth

Will - Provides for the disposition of your money, property, and belongings upon your death.

Durable Power of Attorney and Health Care Directive - These documents give someone you select the power to act for you, make decisions for you, and implement your plan during any time that you are unable to act on your own behalf.

Trusts - Appoints a trustee to manage and control property according to your written directions, for the benefit of a beneficiary (Revocable, Irrevocable)

Life Insurance - Used to provide income and to pay expenses for survivors.

Establish your Goals

Who do you want to benefit?

What or how much whould you like them to receive?

When should the benefit begin and end?

Do the Groundwork

Calculate the value of your taxable estate.

Evaluate wills, trusts, and other documents

Account for Liquidity

Survivor Income needs, estate settlements costs, uncovering liquidity sources, special considerations for business owners

Focus on Taxes

You'll need to consider what effect estate taxes could have on the assets you plan to transfer to heirs. As law continues to grow more complex, you'll need to review your plan periodically.

The Future Begins with You Now

The goal of any estate plan-no matter how large or small-is to secure your retirement, provide for loved ones as you desire, and distribute your property in a timely and efficient manner. By beginning early, you can protect what you've worked so hard to accumulate and enjoy retirement knowing your estae is preserved for future generations.

Schedule a Consulation