Life and Estate Planning

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Before you begin planning, it’s helpful to identify what’s important to you – what do you want to accomplish with life and estate planning.

Once you have identified your goals, it’s much easier to evaluate how well your plan works by seeing whether it will carry out all of your important goals – no matter what may happen in the future.

For most people, regardless of the size of their estate, the following definition of life and estate planning works well.

The Definition of Effective Life and Estate Planning

A good life and estate plan allows you to maintain control over your assets during your lifetime, with your wishes clearly stated, if you should become legally disabled and someone else needs to act on your behalf.

It is designed to let you give what you have to the right people, in the best way possible, and at the right time.

It is kept up to date when there are changes, whether thay are personal changes or when laws change.

An effective plan prevents unnecessary costs and taxes.

Common Goals of Life & Estate Planning

• Growing and preserving your assets for your use;

• Caring for yourself and your family if you are disabled;

• Maintaining the control you want over your affairs;

• Passing on your core values to future generations;

• After your death, leaving your assets in the way you choose, using your knowledge, caring and wisdom;

• Minimizing overall costs, taxes, and expenses for your estate.