Why You Should Have Estate Planning

Most of us are pretty good about taking care of our present needs and protecting the things. But surprisingly, many of us never take time to address what could be our biggest financial questions. How would you answer these questions?

• Who will receive your estate?
• Will you owe federal or state death taxes and, if so, how much will you owe?
• Where will the money come from to pay these taxes and other settlement costs?

Our advisors work together with Estate Planning lawyers to help you build a proper estate planning to help you reduce the amount of taxes your estate will owe, as well as allow you to plan for how the assets you've accumulated over your lifetime will be distributed.

The Most Common Estate Planning Tools Include:

• Wills, which are a legal declaration of how you want your assets to be distributed when you die.
• Trusts, which transfer property to your beneficiaries with several tax and non-tax advantages.
• Charitable giving, which enables you to distribute a portion of your assets to selected organizations, thus reducing the amount of taxes you owe.
• Life Insurance, which provides the cast your family needs to maintain its lifesytle and the liquidity needed to pay estate taxes and settlement costs.