Estate Planning

Estate Planning

Estate planning will bring you peace of mind knowing that your personal well-being and family will be protected, that your financial wealth will be preserved and passed on to your heirs or beneficiaries according to your wishes. This is a dynamic and evolving process that needs to be revised over time, due to life changing events (marriage, divorce, birth, death, etc.), but also because of changes in federal and state laws, as well as relevant tax laws. There is no age limit and no estate value to start preparing and establishing your customized estate plan.

Estate planning is comprised several components, including but not limited to personal and business wealth preservation, income and transfer (gift and estate) tax minimization, planning in case of death and/or physical or mental disability, asset protection, and probate avoidance.

Some of the very useful estate planning instruments include:
 

  • Creating a Last Will and Testament
  • Setting up a revocable living trust
  • Establishing annual gifting to reduce the taxable estate
  • Setting up durable power of attorney (POA)
  • Health Care Surrogate Designation
  • HIPAA Release Authorization
  • Living Will
  • Declaration Naming Pre-need Guardian for Minor
  • Setting up funeral arrangements