Why do Estate planning? I don’t want to think about it! Let my family members figure it out! Why spend money right now? I am still alive and kicking!
Estate planning is necessary to avoid giving your money to the government as opposed to your loved ones! Estate planning can also avoid probate, which allows the courts to decide how to distribute the assets of your estate.
Estate planning allows for your assets to be transferred to the next generation or to whomever you decide will benefit from what you have worked so hard for. It ensures that your wealth is secured and given to the people you choose, in an orderly and timely manner. Without it you may pay unnecessary taxes upon your passing.
What is the best way to transfer an asset after death?
You do not want the transfer to be messy. You want the processes to be smooth and controlled. When the times comes, your assets would be transferred to your heirs via use of a trust. Using a revocable trust can help to safeguard your assets after your death. Lacking a trust, your assets would likely go to the probate courts to be distributed.
Is my Estate in Danger without a plan?
Estate planning can do more than just protect your assets at death. Using the correct trust plan can protect assets due to a variety of factors such as a lawsuit, divorce, or even child custody disputes. Use of an Irrevocable Trust in these cases can protect your assets while you are alive.
How Can I Make Sure my Family is Taken Care of After I Pass?
Estate planning and the use of trusts is essential to plan for future generations. Establishment of a Legacy Trust to retain the wealth you accumulated over your lifetime for the benefit of your children and grandchildren. You must act to make sure your wealth is protected.
Summit CPAs Professional Services is ready to help protect your assets for future generations.
Summit CPAs Professional Services is available to assist in your Estate and Asset Protection planning. We have the resources, expertise and experience you want to establish a plan to safeguard your assets for the future.