The idea of the estate tax doesn’t apply to plenty of people in America, but for those that it does impact, it is extremely important to have the resources provided by an experienced and dedicated financial expert. Understanding the various steps in this process is extremely important to determine how to create a customized plan with the help of an estate planning lawyer.
There are several different strategies you can use to address a comprehensive financial and estate plan that considers all of your investments and saving strategies, planning ahead for retirement, and the legacy you wish to leave behind for your loved ones. These steps include things such as:
· Creating an irrevocable life insurance trust
· Giving gifts to family members
· Establishing a family limited partnership if you have any family-owned assets or businesses
· Making charitable contributions
· Creating and funding a qualified personal residence trust
A financial advisor and an estate planning attorney can help you to look at your situation from a big picture perspective. This can help you to figure out the next steps you need to take and how to adapt and adjust your financial and estate plan over time. Schedule a consultation with a member of our experienced team to learn more about your options.
Our office works with clients to help you with the individual pieces of your planning process, but also to help you adapt as circumstances change in your life. Whether it’s a change in the tax code or a personal change in your life, we’re here to help you ensure that your financial plan is always up to speed.