What
Is Estate Planning?
Estate planning is much
more than a process that helps you carry out your wishes when you die.
It can also help you during your lifetime. Here's how:
During
Your Life
An effective estate plan
will provide you with techniques that help you save on taxes and, through
those savings, more easily achieve your financial goals. Some examples
are:
-
Estate liquidity insurance
-
Family and charitable
gifting programs
-
Life insurance trusts
-
Private annuities
-
Business cross purchase
plans
-
Stock redemption plans
and more.
-
After You're
Gone
Estate planning helps
minimize taxes, expenses and delays in connection with the
transfer of your estate.
And, a properly designed estate plan will provide liquidity to
ensure that adequate
cash is available to pay all taxes, debts and expenses
The
Estate Planning Process
. Examine your current
circumstances
. Set specific goals
. Formulate a plan
Implement your
plan
. Periodically review
plan