Estate Planning
We look at our financial life in two phases; one while we are living and the other when we are not. We refer to these two phases as, your life and your legacy. Think of estate planning as asset protection once you are no longer physically able to make choices and decisions. The goal of estate planning is to ensure that you will always be in control of your wealth, while you are living and to create your legacy.
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Proprietary Services for Estate Planning
The Smart Legacy Plan Organizer ℠
The 4x4 Financial Independence Plan ℠
Products for Estate Planning
Annuities
Charitable Trusts & Annuities
Delaware Statutory Trusts
Insurance-Disability
Insurance-Life
Insurance-Long Term Care
Micro-Captive Insurance Companies
Mortgages-Forward
Mortgages-Reverse
No-Load Annuities
Real Estate Rentals (Direct)
Real Estate Rentals (Partnerships & Syndications)
Retirement Plans (Company Sponsored) Pension & Profit Sharing Plans - The Super(k) ℠
Retirement Plans (Self-Directed) IRA's, 401(k)'s, SEP's, SIMPLE's, Roth's
Coaching and Consulting
Why You Need an Estate Plan
You need an estate plan, regardless of whether or not you are among the ultra-rich. As recent news has shown, even those who have won the lottery or have substantial wealth can fall victim to poor estate planning.
While federal estate taxes may not concern you, you need a will to have your wishes honored after your death. Without a will, state law dictates the distribution of your assets, which may not align with your intentions. Additionally, if you have minor children, a will allows you to name a guardian to care for them in the event of your untimely passing.
Your heirs will want to avoid probate because it can be a costly and time-consuming legal process. A living trust gives you a valuable tool to avoid probate. By transferring legal ownership of your assets to the trust, you can ensure that your beneficiaries receive them without suffering through probate.
You can amend your living trust as circumstances change, providing flexibility and control over your assets.
It is also essential to keep your beneficiary designations up-to-date, as they take precedence over wills and living trusts regarding asset distribution. (Our Smart Estate Plan Protector ℠ will help you with this).
Additionally, if your estate will suffer from federal or state death taxes, you should plan to minimize your exposure.
Estate planning is not a one-time event but a process that you should review and update regularly to accommodate life changes and fluctuations in estate and death tax rules. We recommend checking your estate plan annually to ensure it aligns with your wishes and circumstances.
If you have any questions or concerns about estate planning, please do not hesitate to contact us.
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This initial interview will help us understand your unique situation and, for you to learn about us; to ask questions about what we do and how we can help you. Then, we can mutually assess your needs and our capabilities to see if there is a good fit!
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Browse All Estate Planning Articles, Videos, Podcasts
Estate Tax Liquidity
If you have a current net worth of at least $5,000,000 growing faster than inflation, and want to minimize the estate tax your family will need to pay when you pass on, watch this short video to learn how you can protect the value of your estate from the IRS. In...
The Benefits of a Living Trust
Even if we have a will at the time of our passing, all of our assets and liabilities will need to be settled in probate court before they can be distributed to our families. Watch this short video to learn how your estate can easily avoid the delay and cost of probate...
6 Tips for Organizing Your Records
Estate Planning If you got hit by a bus tomorrow, would your loved ones know how to access your important records? Would they know which accounts you hold and where your money is? What about insurance policies? Real estate ownership papers? You may have your records...
Potential Estate Tax Threat?
The Smart Estate Planning Newsletter Over the past few decades, federal taxes have generally trended lower. That era may be coming to an end, especially for well-off individuals. The major factor to consider is that our country might finally be forced to confront the...
ETF or Mutual Fund?
ETFs (Exchange Traded Funds) and Mutual Funds are similar in just enough ways to be confusing. ETF’s popularity is YUGE. Does that mean they are better than the traditional mutual fund?Related Article from CNBC: ETF assets rise to record $4 trillion and top industry...
The Top 7 Questions for an Effective Beneficiary Audit
The Smart Estate Planning NewsletterThe question of who inherits your assets becomes more important as you age. A good beneficiary audit can reassure you that the right people will inherit the right accounts and that the applicable tax and investment issues are...
Income Crisis
We are used to talking about job losses in the midst of a recession. That’s a measurement we’ve seen before. But there’s a new indicator in the spotlight, income loss, and it may just tell us more. Many employers are choosing to hold off layoffs as long as possible...
6 Wealth & Success Lessons from The Ultimate Gift
Tax PlanningDiscover what it means to be wealthy or successful. If you’re like most, it takes a few hard knocks to understand what life truly has to offer. Several years ago at the Berkshire Hathaway annual shareholders meeting in Omaha, Neb., a precocious 10-year-old...
Protect Your Assets With A Family Bank
The Smart Estate Planning NewsletterOne of the biggest drains on your account may not be the market but rather family requests for money that may never be repaid. Preserve assets—and emotional health—by setting up a “family bank” where loan requests are reviewed,...