Estate Planning
Estate planning is an essential step in laying out your legacy. Planning ahead will ensure your estate goes to those you intend. Proper estate planning can also reduce taxes for large estates.
Financial Benefits
Depending on your needs, estate plans range from simple to complex, and can include wills and trusts. By planning ahead, you can minimize taxes and maximize the amount of wealth your beneficiaries receive. Charitable bequests or trusts can also help mitigate taxes. Additionally, a well-crafted plan can save your heirs the time and expense of probate court if you choose a Living Trust to distribute your assets.
Avoid Issues
Clearly laying out your wishes will ensure your assets go to the person or persons you intend. An estate plan clarifies your directives so that there are exact instructions to be followed. A good plan can also do things like instruct who will care for your minor children or provide instructions concerning difficult health decisions at the end of life. Planning ahead can save your family time, money and grief during a very difficult time.
