Ensuring Your Health Care Wishes: Estate Planning Essentials
Creating advance directives, including a living will and a medical power of attorney, will ensure your healthcare preferences are followed later in life. Estate planning comprises several different areas, from estate taxes to legal documents to trusts and wills. However, one important area you can’t ignore is healthcare. You never know what the future will bring as far as medical needs and associated costs. Preparing now will make it easier for you...
Your Guide to Drafting a Will
A will is a foundational component of estate planning. Discover key elements to include and how to designate an executor. When you’re starting the estate planning process, one of the first and most important steps you’ll take is creating a will. Many of us put off will creation because it sounds daunting, and we don’t want to consider the unpleasant thought of what will happen when we’re gone. But, drafting a will...
Exploring Trust Options in Estate Planning
Trusts can help you strengthen your estate plan. Find out the different types and their benefits for taxes and asset protection. Trusts are often leveraged in estate plans to ensure assets are protected and are only passed on to chosen beneficiaries. A trustee is designated by the trustor to hold the title to the assets, which will benefit the chosen beneficiary according to the trust’s terms. A big benefit of establishing a...
How HNW Families Can Conquer the Estate Tax
Careful planning now will ensure your estate remains intact for future generations. One of the most important considerations in wealth management is charting a course for your wealth after you’re gone. You want assurance that it will pass on to future generations, along with the values that helped you build it. A key factor in this is navigating the estate tax, a complex and sometimes overwhelming concept that can have a significant...