Estate planning is a process each client undertakes to ensure that his/her assets are distributed to the appropriate people, in a manner he/she deems appropriate in the most tax efficient way possible. For one client, this may mean a simple Will and Powers of Attorney for both Healthcare and for Property. For another client, this may entail a series of trusts, asset protection planning, a lifetime gifting strategy and/or the use of insurance to leverage the planning that we do.
It’s our goal to determine what’s important to each client and to then craft an estate plan that will meet that client's objectives and be easy to understand.
As part of the estate planning process, we may address issues that include probate avoidance, lifetime gifting, estate tax minimization, asset protection, wealth preservation, business succession, charitable planning and financial planning. The topics pertinent to each client will depend upon his/her personal situation. However, know that we're always looking for the most effective way to meet each client's goals.
To ensure that you are well situated, we also discuss asset location and asset allocation with all clients. Understanding how each client's assets are titled and which spouse is the owner plays an important role in minimizing estate tax and avoiding probate.