Estate Planning

Estate planning is the capstone of your overall financial plan. It is the area of planning that takes into account all of your assets, health care decisions, distribution, and taxes.

You want to make sure that a lifetime of hard work does not go to unnecessary taxes and possibly the wrong beneficiaries. Preserving wealth during your lifetime and properly transferring wealth to the next generation is a key component of the planning process.

Addressing the documents needed to carry out your wishes along with the proper implementation and funding vehicles are part of the discussion we will have during an initial consultation.

Most Americans approach estate planning with the belief that they only have one pot of money, something that might be called their “working capital”. Wealthy Americans, however, realize that, in addition to their “working capital”, they have a second pot of money: ”social capital”.

This “social capital” represents the portion of their estate that will go to society in one form or another. It might be transferred to society in the form of estate and gift taxes. Alternatively, it might go to society as a charitable gift. Planning your legacy ahead of time can help you direct both your working and social capital to where you’d most like them to go.

With proper legacy planning, a portion of your assets can easily and efficiently be directed to your heirs.

For those with large enough estates, however, under our current system there’s a portion that will never reach our heirs.

Gift or tax?

It’s your choice as to whether the portion you can’t control becomes a charitable gift or tax.

For effective estate planning, we recommend a competent and coordinated team of legal and financial professionals

  • Have you addressed your estate planning needs?
  • Are your documents outdated?
  • Are you using the proper beneficiary selections for your qualified accounts?
  • Have your concerns shifted from accumulation to conservation?

Give us a call for your complimentary consultation.