An estate plan is a comprehensive strategy to ensure that your assets are distributed according to your wishes. It can also help minimize taxes, help maximize inheritance, and establish your wishes for end-of-life care to ease the burden on your family. Creating a comprehensive estate plan with the help of your financial advisor and other professionals can help ensure assets are passed on to loved ones as you intended. Estate planning is not only for the wealthy. If you own assets, you have an estate.
Wills stipulating distribution of money and possessions, plus guardianship for minor children.
Living wills with health care directives and power of attorney for health care ensure your medical wishes are followed.
Durable power of attorney for personal, legal, and financial affairs if you are unable to handle them.
Up-to-date beneficiaries for all relevant accounts.
Revocable trusts allowing heirs to avoid probate.
Other trusts as appropriate for your financial and tax situation.
Legal agreement and life insurance for orderly transfer of business assets.