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.
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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Browse All Estate Planning Articles, Videos, Podcasts
Estate Planning Under The New Tax Act: Everyone Needs A Review
The Smart Estate Planning NewsletterWhen was the last time you examined your will or trusts? How about power of attorney or plans to gift assets? Under the new tax act, only eight per 10,000 estates will owe federal estate tax—at least until the act sunsets. That...
How to Receive Early Distributions from an IRA Without Penalty
The Smart Income Independence Planning Newsletter When most people think of taking money out of a non-Roth IRA (Individual Retirement Arrangement), they think of the 59½ rule. What’s the 59½ rule? It means that if you take a withdrawal from an IRA before age 59½ you...
Controlling Your IRA Assets from the Grave
The Smart Estate Planning NewsletterProtect IRA Assets from Your Children’s Poor Decisions More and more wealth over the coming years will transfer between generations as our population ages. Investment News stated recently that there will be more wealth...
An Overview of Asset Transfer Strategies
Whenever we acquire assets, we take title to them in many ways. Most time, we really don't give this much thought. We just think of them as "ours". Sometimes, with larger assets especially, we do give consideration at to how we want to title (take ownership) those...
Is Your Trust Paying Taxes At A Very High Rate? Want To Fix That Problem?
In a recent study, we found that nearly 75% of tax & financial advisors use trusts for “Legacy Planning” initiatives. While trusts are an important tool for transferring wealth to future generations, tax rates for trust income are very high. As of the date of...
Bad Advisors-How To Detect Them and How To Avoid Them
Written by attorney, Roccy DeFrancesco J.D., CWPP, CAPP, CMP and the founder of The Wealth Preservation Institute, his book “Bad Advisors” will not only confirm your suspicions about your current and past financial advisors, it will also reaffirm why you should likely...
Key Financial Data-2015
Do you want a quick resource for income tax tables, deduction and contribution limits, virtually all important financial data in one place? Then download this FREE Key Financial Data page and pass this link along to all your friends, family and associates....
There Is A Better, Smarter, Safer Way to Plan For Your Retirement
The Old Way There is a Better, Smarter Safer way! This is the paradigm most people have when it comes to making their investment decisions. When the market is up, they become greedy. They want to get on the band-wagon and not miss out on the "opportunity" to make...
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Estate Planning Needs
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!