Estate
Plans

Estate plans are not just for the wealthy. Estate plans is a kind of individual insurance that are not just for the wealthy. It is a kind of individual insurance that is for everyone. Even if you don’t consider yourself wealthy at this point in your life, you can be assured that when you pass away your estate will go to whomever you wish with the proper planning. Without an estate plan, your estate will be passed according to intestacy law which may not align with your desires.

You may be thinking, “I don’t want to plan my estate because I’m not ready to think about dying.” But, that’s precisely why it’s essential you have estate plans— so you can control what happens to your assets and personal possessions after you’re gone. Having a plan in place will also help ease the burden on your loved ones as they deal with your passing.

The good news is you can control your assets while you are living, and you have the opportunity to decide what will happen to them when you pass away. We’ll give you a head start with this overview of estate planning strategies.

Estate Planning is for you...

It’s for everyone

Estate planning is not just for the wealthy, it’s for everyone. Whether you have a house, car, investments or a business, it is important to plan for what happens if something were to happen to you. We have found that many people put off estate planning because they do not know where to start and get overwhelmed by the complexity of their estate.

All adults should have an estate plan

Your estate is anything that you own—your house, car, savings account, retirement account, investments, life insurance, family heirlooms, jewelry, and other personal property. If something happens to you tomorrow, what will become of your assets? What will happen to your family? Think forward.

Have your own choice of planning

The decisions you make in regards to your estate could have a crucial impact on the quality of life for your loved ones. We can help guide you through the process and give you confidence that the right decisions are made. heirlooms, jewelry, and other personal property. If something happens to you tomorrow, what will become of your assets? What will happen to your family? Think forward.

Estate plans starts with a will or living trust

A will provides your instructions, but it does not avoid probate. Any assets titled in your name or directed by your will must go through your state’s probate process before they can be distributed to your heirs. A living trust is more expensive initially than a will, but considering it can avoid court interference at incapacity and death, many people consider it to be a bargain. heirlooms, jewelry, and other personal property. If something happens to you tomorrow, what will become of your assets? What will happen to your family? Think forward.

Estate Planning and Strategies:
Life’s Most Important Financial Considerations

Irrevocable Life Insurance Trusts

This is a form of living trust that cannot be dissolved or revoked unless failure to pay premiums causes the insurance policy held by the trust to lapse. Irrevocable trusts are generally set up to minimize estate taxes, access government benefits, and protect assets.

Charitable Remainder Trust

This is an irrevocable trust that generates a potential income stream for you, as the donor to the CRT, or other beneficiaries, with the remainder of the donated assets going to your favorite charity or charities.

A-B Trust

Trust created by married couples to help minimize estate taxes for the surviving spouse after one spouse passes away. The purpose of AB Trusts is to help avoid double taxation and ensure that your assets transfer to the right beneficiary, usually your spouse, after death.