Estate Planning:


Estate planning is the process of mapping out how you want your personal and financial matters to be handled during periods of incapacity or at your death. An estate plan should be implemented with the assistance of an experienced estate planning attorney and financial professional.

Key points:

• Estate planning is not just for the wealthy (in fact, estate planning can actually be more important for smaller estates).
• Estate planning allows you to make sure that loved ones will be provided for and not overly burdened by personal and financial matters.
• An estate plan makes clear your wishes and can help to avoid family disputes. 

Estate planning is especially important if:

• Estate tax is a concern.

• You own property in more than one state.

• You have minor children or children with special needs.

• You own a business.

• Your spouse is not comfortable handling financial matters.

• You want to make significant charitable gifts.

Typical estate planning documents include:

• Will

• Durable power of attorney

• Health-care directives

• Living trust

Major problems and financial burdens can occur if these issues are not handled appropriates.  Legal costs, probate expenses, and federal and/or state estate taxes can consume over 75% of your assets in a worst case situation.

Schedule a beneficiary review today.  This one precaution can prevent a major crisis!

• Legal counselor
• Financial professional experienced with estate and insurance issues and possibly business succession planning and business continuity
• Tax professional for tax evaluation of alternatives
• Real estate experts
• Clergy or other religious official if appropriate
• Business brokers if appropriate

Considering our own mortality is a scary thought.  The best gift we can give to our heirs is to insure that we have our estate house in order BEFORE something happens.  

Financial caretaking gives us peace of mind and will make a difficult situation easier for our loved ones and dependents while they are experiencing a period of intense grief and uncertainty.

A strong team of advisors can help you create an estate plan that will work optimally for all parties involved.

At AverTrust Advisors LLC, we know how scary our own mortality and estate planning can be.  We are here to help you and your heirs functionally and financially tackle a difficult situation.

• We meet and discuss your desired outcomes in our initial introduction meeting.

• Our clients then complete our estate planning documentation.  Organization is so important.

• We analyze the assets and prepare a complete current situation analysis.

• We work with you and your attorney to develop what-if scenarios.

• We develop financial and tax consequences of the chosen scenarios in chart and spreadsheet forms, so that you can determine the most equitable approach with all the information on hand.

• Post-death planning issues should ideally be covered before an event.  We will address any estate planning, elder care, burial concerns, retirement and business issues as well.

• We then support you in communication with family and dependents.  

• We also work with you to keep your plan updated.

• Finally, we work with your heirs, loved ones, dependents and business partners to follow your plan and honor your wishes.

Schedule an introductory meeting today.  Start your preparation today with the team that can work with you to architect the plan and then later support a solid structure with your heirs.  

If you have a business or another large asset better left to just one person, we have developed strategies to prevent possible inequity and discord among heirs.  We can help you prevent problems later with advanced estate planning techniques.

Estate Planning and Wills by Nolo.com
Estate Planning by Smart Money Magazine
Estate Planning by ThirdAge.com
FindLaw on Estate Planning, Wills and Trusts