Estate Planning
Estate planning is the act of taking measures to direct the management of your belongings upon your death or incapacitation. It is also undertaken to transfer wealth to surviving spouses and/or children and heirs in the most tax efficient manner. Without having a proper estate plan, your assets will be distributed according to state and federal laws, not according to your wishes. Additionally, your estate may also be subject to a tremendous amount of taxes that can be avoidable.
- When was the last time you reviewed your estate documents?
- Are your Wills current?
- Are Powers of Attorney and Health Care Directives in place?
- Do you have a Contingency Trust for the benefit of the children?
- Do you have any Family Trusts in place?
Risk Management & Asset Protection
The most important question regarding family protection is: “If you died today, became disabled, or experienced a long-term care event, would your family have adequate resources to maintain their current standard of living and meet their future financial goals and obligations?”
- Have you ever quantified the need?
- How much life insurance do you own?
- What types of policies are they: term, permanent?
- How much disability income coverage do you have?
- Do you have a long-term care insurance policy? How about your parents?