Estate planning is a tool to achieve the objective – to be remembered the way you want. To leave a legacy to the loved ones reflects your wishes and gives purpose to what you’ve accomplished in your life. Without estate planning, objective will not be achieved.
- Your Estate Plan
you can create an estate plan that will ensure your assets are passed along with no problems and minimal taxes.
- Your Will
Will is the foundation of your estate plan. It gives you the power to choose your beneficiaries and ensures that each gets the desired share only. You must at the very least have a will, If you are giving a miss to an estate plan.
- Trusts offer great rewards and they’re not meant for millionaires only
To create a planned Trust is an important part of your estate plan. Trusts offer some key advantages in an estate plan. They can allow you to reduce capital gains upon death, to defer taxes and split income to reduce taxes. Also they can allow you to avoid the costly process of probate. In short, you should probably consider including a trust in your estate planning.