Tax & Estate Planning
Virtually every financial decision has some tax implication and could affect your estate plan. Our process allows our advisors to work closely with your accountant and estate attorney to help you make decisions that help you reduce your current and future tax burden, reduce exposure to estate taxes and probably costs, and preserve your estate for your intended heirs. It can also help protect your financial security if you become incapacitated.
While reducing taxes can be an important goal, it’s not the only reason to develop an estate plan. Regardless of what happens with tax legislation, an estate plan can be an essential financial planning tool.
As you put together your own estate plan, consider these elements:
- A Will can specify who gets what and name guardians for minor children.
- Durable Powers of Attorney allow whomever you choose to make financial and medical decisions if you become unable to do so yourself.
- Beneficiary designations on retirement accounts, life insurance policies and the like should be coordinated with the rest of your estate plan. Those assets will go to the listed beneficiaries, regardless of your Will.
- Titling of assets also should be coordinated with your total estate plan. Property owned jointly with right of survivorship, for instance, typically goes to the survivor, superseding any instructions in a Will.
- Trusts are flexible tools that can be used to manage investments during your lifetime and beyond, distribute assets to heirs under circumstances that you spell out, minimize estate taxes, maintain the privacy of your financial affairs and protect assets from lawsuits and seizures.
We can help in identifying strengths and weaknesses in your current financial picture or in developing a comprehensive financial plan.
Contact us today for a complimentary, no obligation consultation.
- Tax strategies
- Tax-favored investments
- Estate taxes
- Trust services
- Speaking Engagements
- Financial Seminars
*Financial Advisors do not provide specific tax, legal advice and this information should not be considered as such. You should always consult your tax/legal advisor regarding your own specific tax/legal situation.