Estate Planning

Establishing an estate plan, with a living trust as its centerpiece, is simply a matter of taking the legal steps to ensure that in the event of a serious illness or accident or in the event of death, that at no time will you or your family be controlled by some stranger in a black robe, sitting in some courtroom. By establishing an estate plan now, you save you and your family from years of delay, tens of thousands of dollars in needless costs and, for those with larger estates, you can also save your family hundreds of thousands of dollars in taxes. Click on Living Trust, for further information OR if you have a lot of questions already, try clicking on Frequently Asked Questions. Strategies and documents may include: revocable living trusts, irrevocable living trusts, life insurance trusts, charitable remainder trusts, charitable lead trusts, family limited partnerships, limited liability companies, incorporations, as well as other documents/strategies.

Estate Planning? Unfortunately, many financial planners misuse the term, “Estate Planning”, when they are actually talking about Financial Planning. They are using the word “estate” in place of the word “assets” in describing how they are going to help a person build up the value of their “estate” so they can live comfortably in retirement.

When using the term, “Estate Planning” in a legal sense, the reference is to establishing a plan, using legal documents, to preserve and protect those assets that have been acquired through proper “financial planning”. Therefore, you do not have to worry about being offered swamp property in Florida or some “hot” new stock. Estate Planning in its simplest terms is using legal documents to establish a plan for taking care of you and your family in times of severe health issues and/or at death, in the most direct, simplest, least expensive way possible.

Components of a Typical Estate Plan: The documents included in a typical Estate Plan include a Living Trust, an Asset List, a Will, a Durable Power of Attorney for Financial Affairs, and an Advance Health Care Directive.

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