Good estate planning is more than just preparing a will. Estate planning involves the transfer of your wealth both after you die, as well as during your lifetime, in order to carry out your individual goals most effectively. The three primary objectives of a good estate plan are:
Transfer of assets
Protection of assets
Minimization of taxes
But I have a will; isn’t that enough? Having a simple will is not sufficient estate planning. However, a properly drafted will that works in conjunction with other instruments will often allow you to achieve the objectives of a good estate plan. Without proper planning, a simple will cannot minimize your tax liability or offer asset protection from your children’s creditors. We will help you determine if a revocable living trust, or other estate planning technique, makes sense for you.
What are the benefits of a properly administered estate? A properly administered estate will allow you to:
-Manage the administrative process with minimal effort;
-Understand the process and be in control;
-Settle and distribute the estate efficiently, and quickly;
-Take advantage of all estate tax minimization techniques and elections; and
-Minimize the cost of administration.
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