Estate Planning

Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death.  Under current law a wealthy individual may lose almost half of his assets upon death to estate taxes.  "Estate Planning" is the process of reducing or eliminating this onerous tax burden.

Furthermore, a good estate plan coordinates what will happen with your home, your investments, your business, your life insurance, your pension plan and other property, in the event that you become disabled or die.

Wills and trusts are common ways in which individuals dispose of their wealth.  Trusts, unlike wills, have the benefit of avoiding probate, a lengthy and costly legal process that oversees the transfer of assets. Sometimes, it is more beneficial to make inter vivos gifts (gifts made while the donor is alive) in order to minimize taxes.

Good estate planning is more than just a "simple Will". In addition to minimizing potential taxes and fees, an estate plan should set up contingency plans to make sure that wishes regarding health care treatment are followed.  Every estate plan should include at least the following documents:

  - Trust
  - Pour over Will
  - Durable Power of Attorney
  - Living Will
  - Health Care Proxy

Circumstances may dictate additional documents and programs.  Estate planning attorneys and financial professionals affiliated with Executive Wealth Management, use sophisticated legal techniques and leveraged asset vehicles, to accomplish your goals.