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Wealth Management » Estate Planning

Estate Planning is about more than who gets your stuff! 

estate_planning_wmIf you think that estate planning is only about saving taxes and deciding who gets your stuff, think again. For some, estate planning is only about the stuff. We hope you’re different. We hope you want to help your loved ones and those close to you through a very difficult time in their life. We hope you have lessons to teach that you would like your children and grandchildren to learn.


Do you discuss what you want to happen to your estate?

If you’re like 95% of the people in the U.S., the answer is no. For about 50% of the population there isn’t even a will in place. Without a will, it’s almost a guarantee there will be no health care, advanced directive or instructions on how you want life ending diseases or accidents handled.

It doesn’t have to be this way. You can choose how you want to be remembered and let people know what’s important to you while you're alive. Some of the things you might want to think about are:

  • What’s been important in your life? How do you want to communicate this? 
  • Is minimizing taxes an important thing? If so, what level of complication do you want to go to achieve this? 
  • Why life insurance is part of every large, well-constructed estate plan. 
  • How do you plan to communicate your wishes? Do you want it to be a statement or a conversation?

Estate planning is a continual process.

Too many people think you do an estate plan and you’re done. That’s like saying I’ve had one physical and I never need one again. Like your health, your financial health and estate will change. If you’re concerned about your personal legacy it’s a good idea to review changes you want to make with your loved ones at least once a year. You then need to make those changes with professionals that help you put your plan together.

Report on the basics of estate planning