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HOW IMPORTANT IS ESTATE PLANNING?

HOW IMPORTANT IS ESTATE PLANNING?

Do you know how importanhow-important-estatet is estate planing.
YOUR ESTATE IS THE SUM OF A LIFETIME OF HARD WORK, SMART INVESTING AND SENSIBLE FINANCIAL PLANNING. IT IS YOUR GREATEST LEGACY TO YOUR LOVED ONES.
No matter how young or old you are, you much wealth you have amassed, whether you’re married with children or single, everyone can benefit from developing an estate plan. It not only gives you peace-of-mind knowing your wishes are in place, it can also reduce the taxes and expenses of your estate and makes the transition of your assets to your loved ones a smoother process.

By creating a well-thought-out, organized estate plan you are able to:

Protect capital from taxation so more of your wealth can go to your named beneficiaries
Pass on your wealth to your named beneficiaries according to your wishes
Minimize family conflict by letting your loved ones know of your wishes regarding your finances and your health
Minimize taxes and fees by structuring your wealth in a tax-efficient manner
Structure a portfolio of assets that may help protect the confidentiality of your named beneficiaries and keep your estate as a private family matter
Avoid estate freezes and delays that occur when your assets are tied up in the court system
Structure your wealth to avoid the concept of ‘affluenza,’ which occurs when adult children don not have experience to manage sudden wealth
Estate planning is simply more than having a will. It is a continuous planning process that can alleviate the financial burden for your loved ones. Spend the time now to organize your affairs so you can help those you leave behind understand, resolve and prepare for any of the issues that can arise when settling your estate.