People spend a lifetime accumulating assets and building an estate with the intention of passing it on to their heirs or charitable beneficiaries. Without proper planning, a person’s death can create significant hardships on the people for which the estate was created. For an estate to be passed on to the heirs, there could be settlement costs, such as probate fees and death taxes. In some cases, where the death taxes are substantial, assets may have to be liquidated in order to pay them. Also, the actual transfer of assets could be delayed by probate proceedings that are bogged down if there are any contestable assets.
At JFTWM we can help you obtain a sound estate plan which, can eliminate many of these problems that arise during the settlement of an estate and help you accomplish the following:
- Ensure that your wishes are honored when you are unable to manage your own affairs.
- Communicate your wishes and expectations precisely to your family and heirs
- Provide for your family’s financial security
- Provide capital to meet immediate liquidity needs for settlement costs
- Facilitate the timely distribution of assets by avoiding probate proceedings
- Maximize the estate for transfer by minimizing taxes and expenses
- Ensure that all beneficiaries are named in accordance with the most recent will or Avoid publicity by keeping the proceedings out of the public record.
- Conserve the estate so later generations can benefit.
- Leave a charitable legacy with a gift of assets or a trust.
One of the primary objectives of an estate plan is to ensure that your assets are transferred in accordance with your wishes. We have access to one of the most qualified estate attorney’s in the country and working together we can help you determine which estate planning arrangement will work best for you.
Contact us today to determine whether estate planning fits into your financial plan.