FISCAL STRATEGIES



ESTATE PLANNING

Wealth preservation for you and your heirs

Estate planning will allow you to leave behind the legacy you've worked so hard to create. Reflecting your wishes, and incorporating longevity to what you've accomplished in your life. Without estate planning, that likely will not happen.

Estate planning is the process of anticipating and arranging for the disposal of an estate. Estate planning typically attempts to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses. Guardians are often designated for minor children and beneficiaries who are incapacitated. Estate planning involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney, specifically the durable financial power of attorney and the durable medical power of attorney.

The major components of an effective Estate Plan include:
  • your will
  • strategies to minimize your estate taxes
  • establishment of a trust to protect your assets and speed their transfer to your beneficiaries



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