One of the greatest rewards of wealth is being able to share it with others. You’ve taken care of your own needs and wants. But it also takes prudence and planning to make sure your estate is passed to your loved ones and favorite charities in the most efficient way possible. Having a plan to control the distribution of your assets benefits you, your family, and the causes you care about while mitigating potential pitfalls.
We work with your other trusted advisors to customize an estate plan that not only protects your assets but allows you to share your wealth with the people and organizations you care about most.
But creating a legacy that reflects your whole life – who you are and what you’ve accomplished – doesn’t have to be a morbid task.
It can be life-affirming to preserve your family values and ensure your assets go to those closest to you and in accordance with your wishes. And perhaps the most vital aspect of estate planning is communicating your wishes with your loved ones and making sure they are thoroughly and accurately documented.
Trusts give you the confidence of knowing what will happen to your estate, can potentially exclude probate, a lengthy and expensive process, and can avoid the judicial appointment of a guardian or conservator in the event of incapacity. Some provide for long-term care or education for children or grandchildren; while others can provide for a favorite charity.
We can work with you to ensure your wishes are communicated, in writing and legally binding. Beyond that, we’ll revisit your plan regularly to ensure it is up to date.
Moreover, having the right charitable giving strategy can help further your overall wealth management plan.
There are many ways you can make charitable giving part of your overall financial plan, each with its own level of control and tax benefits. Some options provide immediate or future tax deductions while others can provide a continuous income stream.
We can work with you to provide recommendations that not only benefit you now but provide the opportunity to shape the way you wish to be remembered.
These legal documents should be considered for every estate plan: a will, a revocable living trust, a durable power of attorney for financial affairs, a durable power of attorney for medical decisions, and a living will.