Estate Planning 2017-07-30T23:36:35+00:00

Estate PlanningEstate Planning


An estate plan is your opportunity to say what you want so no one is left trying to guess what you may have wanted. Most people are uncomfortable speaking for someone else’s wishes in these important matters—even when that person is deceased.

By putting together a solid estate plan, you lessen the burden on your family, who may be emotionally distraught if you are ill or in mourning if you’ve passed. In addition, it saves your family the ordeal of probate court, where a judge takes your assets and makes decisions regarding what should be done next.

Both wills and trusts give you control over how your money will be dispersed after you die. If you don’t have either of these, you are said to have died in intestacy, and your money and assets go into probate court. Probate is a long and costly process that ultimately has a judge determine, often arbitrarily, who gets what.
When you have a will, you are at least able to convey your wishes. Most smart estate plans include a will with a trust. A trust is actually a separate legal entity that holds your assets and survives you to disperse them according to the trust document. It requires a trustee and may or may not be funded with the assets of your estate during your lifetime.

6 Important considerations while making your estate plan.

  1. No matter your net worth, it’s important to have a basic estate plan in place.

Such a plan ensures that your family and financial goals are met after you die.

  1. An estate plan has several elements.

They include: a will; assignment of power of attorney; and a living will or health-care proxy (medical power of attorney). For some people, a trust may also make sense. When putting together a plan, you must be mindful of both federal and state laws governing estates.

  1. Taking inventory of your assets is a good place to start.

Your assets include your investments, retirement savings, insurance policies, and real estate or business interests. Ask yourself three questions: Whom do you want to inherit your assets? Whom do you want handling your financial affairs if you’re ever incapacitated? Whom do you want making medical decisions for you if you become unable to make them for yourself?

  1. Everybody needs a will.

A will tells the world exactly where you want your assets distributed when you die. It’s also the best place to name guardians for your children. Dying without a will — also known as dying “intestate” — can be costly to your heirs and leaves you no say over who gets your assets. Even if you have a trust, you still need a will to take care of any holdings outside of that trust when you die.

  1. Trusts aren’t just for the wealthy.

Trusts are legal mechanisms that let you put conditions on how and when your assets will be distributed upon your death. They also allow you to reduce your estate and gift taxes and to distribute assets to your heirs without the cost, delay and publicity of probate court, which administers wills. Some also offer greater protection of your assets from creditors and lawsuits.

  1. Discussing your estate plans with your heirs may prevent disputes or confusion.

Inheritance can be a loaded issue. By being clear about your intentions, you help dispel potential conflicts after you’re gone

What does it cost to have an Estate Plan?

BRONZE PLAN ($250):  This is a basic plan which is good for a younger single individual with or without children, and very minimal assets.

  • Customized will
  • Notarized execution.

SILVER PLAN ($500):  This plan is great for a single individual or married couple, with or without children, with limited assets.

  • Customized Will
  • Durable Power of Attorney for Property
  • Durable Power of Attorney for Health Care/Advanced Directive
  • Notarized Execution

GOLD PLAN ($800-1000):  This Plan is highly recommended for single individuals or a married couple, with or without children, with substantial assets.  Substantial assets would be any type of real estate ownership (homeowners), or personal property with a value over $10,000.

  • Customized Trust
  • Customized Will
  • Durable Power of Attorney for Property
  • Durable Power of Attorney for Health Care/Advanced Directive
  • Notarized Execution

We are here to help you take this important step.

Lets Talk Today!