Estate Planning
Regardless of your level of wealth, estate planning is a vital part of your overall financial plan. Planning ahead can give you greater control, privacy, and an opportunity to leave more of your legacy to your loved ones.
Common estate planning issues addressed in the wealth management process include the transfer of wealth, the minimization of transfer taxes, asset protection, and charitable giving.
Some of the major estate planning tasks include:
- Creating a will
- Limiting estate taxes by setting up trust accounts in the name of beneficiaries
- Establishing a guardian for living dependents
- Naming an executor of the estate to oversee the terms of the will
- Creating/updating beneficiaries on plans such as life insurance, IRAs and 401(k)s
- Setting up funeral arrangements
- Establishing annual gifting to reduce the taxable estate
- Setting up durable power of attorney (POA) to direct other assets and investments
HELPFUL LINKS & EXAMPLES
- Living Will Example Form: Click Here
- Health Care Surrogate Example Form: Click Here
- General Power of Attorney Example Form: Click Here
- IRS website - Estate Tax Information: Click Here
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Neither JBirney Financial nor United Planners provides tax or legal advice. We work with you and your legal counsel to assist you with your estate plan.
