Estate Planning

Estate planning is a process to consider alternatives for, to think through, and for you to set up legally effective arrangements that would meet your specific wishes if "something happens" to you or those you care about.

Good estate planning is more than "just a simple Will". Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed.

On the personal side, a good estate plan includes directions to carry out your wishes regarding health care matters, so that if you ever are unable to give the directions yourself, someone you select would do that for you and know when you would want them to authorize "heroic measures" and when you would prefer they "pull the plug". 

On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a pension plan), and other property in the event you became disabled or if you die.  This is often accomplished through the establishment of trusts.

A trust is an agreement under which money or other assets are held and managed by one person for the benefit of another. Different types of trusts may be created to accomplish specific goals. Each kind may vary in the degree of flexibility and control it offers.

These types include a Living Trust, Irrevocable Life Insurance Trust, Supplemental Needs Trust, Minor Trust, Charitable Remainder Trust and many others. Before making any commitment regarding a trust, consult with a qualified attorney.

Speak with your financial advisor about your financial wishes should you become disabled or upon death. They will be able to explain the available choices to help address your wishes.