Estate Planning

Estate planning is figuring out how you want your assets to be distributed after you die. The goal is to minimize the amount of taxes and fees paid, and maintain as much control as possible while alive.

It involves the creation of a strategy and accompanying documents, like wills and trust agreements that dictate what will happen to an individual's assets upon their incapacitation or death. Tax and liquidity planning are both components of this process.

It includes the assistance of qualified experts who are aware of your objectives and concerns, your assets and how they are held, and your family structure. It might necessitate the use of a variety of professionals, including an estate planning attorney, accountant, financial strategist, life insurance advisor, banker, and broker.

Lastly, it encompasses more than just transferring property after you pass away; it includes a host of other personal matters too. And, depending on the situation, tax planning may be involved as well. The main document used in this process is typically a will. Estate planning is the organizing of one's assets before death. The goal is to protect as much wealth as possible and reduce any difficulties for transfer after death.