One of the Most Crucial Aspects of Financial Planning.

Estate planning addresses answers to the following questions:

  • Who will receive a legacy from me after I pass – my heirs or the government?

  • Will my assets be tied up in probate for months/years or pass free and clear to my heirs?

  • Will my family be able to stay in their home after I die (this is especially crucial for second marriages, especially with children)?

  • Who will make decisions for me if I become incapacitated?
  • Who is allowed to call the hospital to find out about my health status?
  • Who will be responsible for my minor children if my spouse and I die?
  • Do I understand my estate planning documents?
  • Which assets (IRAs, Roth IRAs, HSAs, Individual accounts) make the most tax sense to leave to which class of beneficiary (grandchildren, children, charities)?

A financial advisor can help you make sense of it all. Estate planning allows you to be in control of the disposition of your assets after death.

Common Mistakes:

  • Having specific bequests in a will, when all financial asset accounts have named beneficiaries. In many cases, after appropriate asset titling is implemented, nothing significant will pass through the will.
  • Not having any estate planning in place, resulting in paperwork chaos after death.
  • Estate planning that was created but not funded (for example, a revocable trust was established but bank and investment accounts remain in the name of the individual, instead of being retitled in the name of the trust).

Schedule a complimentary consultation today. No cost or obligation. Just honest and objective conversation.