ESTATE PLANNING

  • Financial strategies for estate planning
    You've worked hard to provide a good life for your loved ones, and estate planning allows you to plan ahead to make sure the assets you've accumulated pass on to those you love according to your wishes. Once you establish an estate plan with goals and strategies that are right for you, revisit it every so often to ensure it continues to meet your objectives.

    Business owners should be especially mindful of the need for proper estate planning, given that the largest component of a business owner's estate is frequently the business. Business owners often may not establish an estate plan because they fail to understand liquidity issues and the tax implications that their heirs will face.

    Regardless of whether you own a business or not, estate planning has to take into consideration three questions: what is the plan for the owner's estate; to whom will the estate pass, and what is the most efficient way to minimize the estate taxes?

    To get started with estate planning, consider the following options:

    Life insurance
    Help provide your heirs with a tax efficient means to pay estate expenses immediately.

    Long term care insurance
    Plan for potential high costs associated with unforeseen long term care needs.

    Trust services
    A professional Trust Company can help implement the plans you have made to provide for the welfare of your family and beneficiaries by carrying out your wishes according to the specific terms you set forth in your will and trusts.

    Speak to us about developing an estate plan and financial strategy to meet your needs. We can work with you and your other advisors to ensure your wishes are translated into action.