Estate Planning
Gain the Benefits
From Estate Planning
Estate Planning Made Easy
While many wealth management firms offer estate planning services, you often need to bring in your own estate planning attorney or specialist, as well as a tax advisor. And if you don’t have or don’t know an estate or trust attorney, firms will typically refer you to someone they work with. This leaves you with the job of coordinating a team of experts, who may have competing interests, to work on your behalf.On top of that, estate laws are complex and state laws differ from state to state. Most wealth management firms don’t have the resources or expertise to cover a large span of the country. It’s more likely that these firms will have expertise with a handful of states and will need to bring in another party to work with them.Paying it Forward
- Inventory your stuff. You may think you don't have enough to justify estate planning. But once you start looking around, you might be surprised by all the tangible and intangible assets you have
- Account for your family's needs. Once you have a sense of what’s in your estate, think about how to protect the assets and your family after you're gone.
- Establish your directives. A complete estate plan includes important legal directives.
- Review your beneficiaries. Your will and other documents may spell out your wishes, they may not all be all-inclusive.
- Note your state's estate tax laws. Estate planning is often a way to minimize estate and inheritance taxes.
- Plan to reassess. Life changes, so should your estate plan.
Understanding Your Estate: Critical Elements of an Estate Strategy
Establishing an estate strategy is crucial, yet many wait too long to put their wishes in writing. Use this helpful guide to review your estate strategy and start conversations with your loved ones, financial professionals, and legal team.