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Estate Planning                                                                                                                             
 

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Estate planning is the process of generating and managing wealth and then transferring that wealth to another person(s) or institution.  The process takes into consideration: taxation, legal issues and personal objectives.  life insurance trust, writing a will, last wills, trust lawyers, attorneys,

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There are 6 basic documents in an Estate Plan:

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  • Personal Instruction Letter estate planning software, estate planning tools, estate planning documents, estate planning guide, writing a will, how to write a will
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Everyone needs an Estate Plan.  The main reasons for having an Estate Plan are:

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Insure that your property transfers to the person(s) or entity you want

  • Minimize taxes

  • Minimum costs

  • Provide cash at the time of death for taxes, funeral expenses, and final

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The risks of not have an Estate Plan include:

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  • Client’s property transferring to the wrong person(s) or entity

  • Excess taxes are paid which reduces the amount of wealth being

              transferred

  • Excess cost associated with transferring the property

             (Probate court cost & fees)

  • Client’s family is not protected or provided for

  • Lack of cash to cover funeral cost and the decease’s debt.

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To understand the elements of Estate Planning, click and read about each one of the basic documents that make up a basic Estate Plan: 

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