ESTATE PLANNING

estate planning

Estate planning can be a simple thing for some people, and a complicated thing for others. Because there are federal and state laws that come into play with estate planning, we always recommend working with professionals. Whether you are working on a simple estate plan, a complicated estate plan, or a specialized estate plan, it is good to work with people who see the whole picture. 

Simple Estate Planning

No matter your life situation, if you have other people who depend on you, you should consider implementing an estate plan. A basic estate plan is partially insurance and partially legal. We always examine your assets and if you don't have enough built up you should consider getting a level term insurance policy. This helps your family to continue to be provided for if you passed away. The second part would involve the legal documents of a living will, powers of attorney, advanced directives, and medical release forms. By having all of these pieces in place, your family will be better served if something were to happen. 

 

Complicated Estate Planning

Complicated estate planning is just that - complicated. There are many situations that require advanced planning including if you own a business, if you have significant assets, or if you ​have assets that are not protected in the event of a lawsuit. Many of these situations, in addition to the simple estate planning needs, will also be benefited by other documents such as buy-sell agreements, modified partnership agreements, revocable or irrevocable trusts, and some specialized insurance products. 

Specialized Estate Planning

It is common for people to have a specific wish that necessitates a more specialized version of an estate plan. Some of these common situations would include special needs planning, VA benefits planning, primary beneficiaries who are minors, or ​Medicaid planning. With proper planning, we are able to give clients and their loved ones access to opportunities that may not have been possible otherwise.