Have You Educated Your Family About Your Final Wishes?
You have worked hard to create a comfortable lifestyle for your loved ones and having a financial plan that includes trust and estate planning is critical. Have you educated your family about your final wishes?
Involving your family in the estate planning process can:
- · Prepare them to carry out your final wishes
- · Ensure a smooth transition of your assets
- · Prevent major legal issues and family disputes
Regardless of your assets, whether it is the cash in your wallet, property or more, someone will inherit these things
An estate plan can help you:
- Communicate your wishes
- Protect your family
- Reduce your taxes
Educating your family about your estate plan can provide them the reassurance and guidance to understand the reasons behind your final wishes.
Are you concerned about estate tax liability?
After applying your basic estate planning options, you may want to consider starting a lifetime gifting program to reduce the size of your estate. Gifting during your life can remove assets and their future appreciation from your estate.
There are several gifting options available for you to consider, including:
- Annual exclusion gifts
- Medical or educational gifts
- Charitable gifts
A well-planned program or lifetime gifts to family, friends and charity can save estate and gift taxes, preserve more of your assets for your family and other heirs, and ensure your property goes to the people you want to have it.
Please contact me at 570-595-7447 to schedule an appointment to discuss your financial goals and estate planning options.
