APPOINTMENT AVAILABLE 24/7

Estate Planning & Wills

Estate Planning & Wills
Estate Planning & Wills

What is Estate Planning ?

Estate planning is organizing and managing your assets and financial affairs to ensure that they are handled according to your wishes during your lifetime and after your death. It involves making decisions and setting up legal arrangements to direct the distribution of your assets, minimize taxes, and protect your loved ones. Here are some key components typically included in estate planning:

Will: A legal document that specifies how your assets should be distributed after your death. It also may designate guardians for any minor children.

Healthcare Directives: Also known as a living will, this document outlines your wishes regarding medical treatment if you cannot communicate them yourself.

Trusts: Trusts are legal entities you can create to hold assets on behalf of a beneficiary. They can be used to manage your assets during your lifetime and distribute them after death, often offering benefits such as avoiding probate, reducing estate taxes, and protecting assets from creditors.

Beneficiary Designations: Specifies who will benefit from financial accounts like life insurance policies, retirement accounts, and other financial instruments upon death.

Powers of Attorney: Trusts are legal entities you can create to hold assets on behalf of a beneficiary. They can be used to manage your assets during your lifetime and distribute them after death, often offering benefits such as avoiding probate, reducing estate taxes, and protecting assets from creditors.

Guardianship Designations: Specifies who will care for your minor children if both parents pass away before the children are of legal age.

Letter of Intent: A document that provides additional instructions and wishes that might not be covered in a will or trust, often used for personal effects and personal thoughts.

Estate planning can vary greatly depending on individual circumstances, including the size and complexity of your assets, your family structure, and your goals. It’s typically advisable to consult with legal and financial professionals to ensure all aspects of your estate are properly planned and legally sound.

Estate planning