Estate Planning
7 out of 10 Americans don't have their estate plan documents in place. 40% of them know they need to get them done. (Source)
What is Estate Planning?
Estate planning involves determining how your assets will be managed and distributed after you pass away or if you become incapacitated. This process includes creating legal documents like wills, trusts, and insurance policies, which ensure your estate is handled according to your wishes. Proper estate planning allows you to:
Preserve your estate for your loved one and stay in control for as long as possible;
Direct who is going to receive your estate, including when and how much your beneficiaries will receive; and,
Avoid unnecessary taxes, fees and commissions.
Basics of Estate Planning
The importance of estate planning lies in controlling how your estate is managed and ensuring your loved ones receive their inheritance as you intend. Proper planning minimizes tax burdens and prevents misunderstandings.
Most Common Estate Planning Documents
Guardianship: Specifies who will care for your dependents.
Will: Outlines your wishes for property distribution.
Trust: Manages assets for beneficiaries.
Financial Power of Attorney: Authorizes someone to handle your finances, if you are unable to do so yourself.
Advance Healthcare Directive/Living Will/Healthcare Power of Attorney: States your medical preferences and appoints someone to make decisions if you're unable.
HIPAA Authorization: Consent you give that allows your medical records or information to be shared with a third party.
Pricing
Revocable Trust Package: $2,200
Revocable Trust - Married Filing Separate: $1,950
Basis Will Package: $600
Will Package - Married: $700
Real Estate Retitling (Deed): $400