♦ WHAT IS ESTATE PLANNING? ♦
Estate planning is the process of collecting and disposing of personal assets to maximize the various goals of the estate owner. The goals of estate planning include making sure the greatest amount of the estate passes to the estate owner's intended beneficiaries, often including paying the least amount of taxes and avoiding or minimizing probate court involvement.
The tools involved in estate planning include the will, various types of trusts, beneficiary designations, powers of appointment, various forms of property ownership, gifting, and powers of attorney (financial as well as medical), specifically the durable financial power of attorney and the durable medical power of attorney.
♦ WHO CAN BENEFIT FROM ESTATE PLANNING? ♦
- Do You Have a:
- Spouse /Partner / Kids
- Dependents such as parents or any handicapped individuals
- Do you Own Assets
Do you have a special bequest on how you want your possessions handled
- Charity Intentions and objectives
Special issues that need to be taken care of in a specific way:
non-related family member
- relatives and friends with a special need for money or wealth
- business and tax issues
♦ HOW CAN ESTATE PLANNING BENEFIT ME? ♦
Is your family financially provided for in case of your death? Will your possessions be properly distributed among beneficiaries? Is your family aware of your last wishes?
If you do not plan for yourself, you can lose a substantial amount of money and benefits. In the absence of will your assets may not be transferred to your desired beneficiaries. Furthermore, the costs during court probate can significantly reduce your assets (up to 70%). In addition you could incur estate taxes which would further expense from you assets, leaving only an insignificant portion of your hard earned money for your loved ones.
At Four Brothers Financial we can help you express your personal wishes of what property gets passed on, when and in what manner. We can prepare a Will, a Power of Attorney as well as a durable medical power of attorney (also known as Living Will) and set up various types of trusts that will help you accomplish your goals. We will also help you facilitate the probate process, making this critical time simple for your family and friends.
So let us show you how we can help you:
1) Eliminate/Reduce estate taxes for up to 5-6 million dollars of assets and property.
2) Make financial and health care decisions in the event the individual's mental or physical incapacity.
3) Ensure Easy and Efficient transfers of assets upon individual's death.
4) Ease Financial Hassles during this emotionally critical period.
And most importantly it provides
5) PEACE OF MIND FOR YOUR LOVED ONES.