Estate Planning
In this world, nothing can be said to be certain, except death and taxes.
– Benjamin Franklin
You have worked hard to build assets and provide financial security for you and your loved ones. A good estate plan helps you accumulate, manage, protect and transfer assets to family members or others, as you see fit. It addresses legal and tax issues to pass assets efficiently. Here are some of the things a well designed estate plan can do for you:
- Control Distributions – Ensure that assets are passed according to your wishes, to the right people at the right time.
- Protect Family Income – Providing income rather than asset distribution might be the right strategy. Good trust planning can help protect that income.
- Professional Asset Management – Professional asset management can help make sure that assets are invested in a way that meets the long term needs of the family.
- Charitable Planning – Providing for your philanthropic objectives can create tax saving opportunities while benefiting worthwhile causes and institutions.
- Estate Liquidity – Many of your most valuable assets, such as real estate or a business interest, may not be very liquid. Providing the necessary cash to pay down debts, final expenses and possible estate taxes ensures that other assets can pass intact to family members.
- Reduce or Eliminate Estate Taxes – There are a number of ways to reduce the size of your estate. Good planning means exploring the pros and cons of different techniques to minimize the effects of fees and taxes on your estate.
The preparation you do now provides security for your family in the future. Is it time to review your estate plan?
Contact Rachel Owens at 714-560-9022 or Bill Sornstein at 714-560-1679 for more information.
