Estate Planning
Our services in this area include, but are not limited to:
- Current Estate Value
- Will and Trust Assessment *
- Establishment of Transfer and Preservation Objectives
- Multi-generational Planning Opportunities
- Generation Skipping Options
- Estate sustainability analysis
Many believe estate planning is a term and situation reserved for those who have amassed amazing amounts of wealth over their lifetime. The reality is very different than these assumptions and it changes daily on the federal, state and possibly on a local level. Each of these governing bodies plays a role in your estate and the impact that estate taxes may have on your heirs.
The estate planning strategy you embark on today will determine how significant the government's role in your ultimate distribution of assets will be. The financial strategies you apply will directly impact how and to whom your wealth and assets are transferred. Unfortunately estate planning missteps far outweigh success stories be it Elvis Presley who died without an estate plan and whose estate was worth over $10 million dollars when he passed, after probate he left his family with little over $2 million dollars. Another surprising story occurred with the Wrigley family of chewing gum fame. The family was forced to sell Wrigley Field simply to cover probate costs on the family's estate. There are numerous lesser known cases of unnecessary estate taxation and harvesting which have occurred in communities across the country, possibly even in your own community.
All these occurrences serve as living examples, because each impacts not one, but multiple lives and generations. Your estate and the planning you pursue around it is a living legacy to those whom you love and support during your lifetime. It is in this context that we construct and implement comprehensive estate plans in concert with a qualified attorney of your choice. There are viable planning solutions to almost all the challenges that estate law and taxes present for most individuals. We pursue a comprehensive approach that combines current circumstance and transfer intention into an integrated estate plan that can function alongside all other aspects of your financial situation. Our systematic, written approach leaves a living record of your intentions for your family and advisory team to share and affect. Our underlying objective is to keep as much of your estate value as possible in the hands of those you choose.
*LPL Financial and its representatives do not provide legal or tax advice. You should consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.