Trusts & Estate Legacy
Planning
Estate planning puts you in control of who will receive your assets upon your death and who will make financial and medical decisions on your behalf if you’re unable to. A solid estate plan includes three basic legal documents: a will, a durable power of attorney, and a health care directive. Establishing a trust is optional and will depend on your specific goals.
Our Philosophy & Approach to Estate Planning
1. We believe an estate plan should be tailored to your objectives
No two clients have identical needs. That’s why we sit down and learn what your estate planning objectives are before we make recommendations. Tell us what you want to accomplish, and we’ll let your goals be the guide.
2. We’ll help get you started with estate planning
In the case of estate planning, procrastination doesn’t pay. If you’ve put off the basics – such as writing a will – we’ll help you make it a priority as a crucial piece of your overarching financial plan.
It’s important to view estate planning within the context of your overall financial plan. Within an estate plan, you can dictate who inherits your assets, when, and how they can be used. If you become incapacitated, it allows you to appoint someone you trust to make financial and medical decisions for you. The plan also lets you advise health care workers and loved ones of your wishes regarding end-of-life care.
Many people mistakenly avoid or delay estate planning because they believe they lack sufficient assets. Regardless of income or net worth, we believe all our clients need basic estate planning documents to protect their assets and manage them wisely.
How We Can Help You with Estate Planning
When discussing your estate planning needs, we start by focusing on what it is you want to accomplish. These objectives can range from simply naming beneficiaries to avoid probate delays, to leaving money to a favorite charity in the most tax-efficient manner. Other objectives require more complex planning, such as providing for a special needs beneficiary, protecting assets from nursing home costs, minimizing estate taxes, preserving valuable family heirlooms, or responsively distributing an inheritance.
While our financial advisors are not estate planning attorneys, they are well-versed in the field and work with estate planning professionals to assist you. Freedom First Retirement Design is committed to helping you get sound legal advice while also identifying ways to avoid unnecessary legal documents and fees.
We’re Here to Provide Answers to These Common Estate Planning Questions:
What’s the purpose of estate planning?
Am I wealthy enough to need an estate plan?
What will an estate plan do for me?
Can a plan provide benefits during my lifetime or only after my death?
Can a plan help me distribute my estate equally among my children and stepchildren?
What legal documents are necessary?
What happens if I die without a will?
What’s a trust and do I need one?
How can I use estate planning to protect my assets against long-term care costs?
Can an estate plan help me save on taxes?
What law firms in my area specialize in estate planning?
Should I consider a revocable living trust?
