Design and build a legacy.

Creating an estate plan is essential to ensuring that your assets will transfer according to your wishes and intentions. Many people incorrectly assume that estate planning strategies are only implemented for minimizing taxes. However, a sound estate plan should also address questions such as:

  • Who will manage your affairs if you are incapacitated?
  • Does your estate plan address the unique needs of family members?
  • If you have children or minor beneficiaries, do you want trusts developed for your heirs?

We will assist you with considering these and other issues, and through a thoughtful assessment of your concerns and wishes, we will work closely with you and your estate planning attorney to design a personalized estate plan that meets all your needs and objectives. For qualified individuals, our Signature Services will pay for the preparation and legal fees of creating your Will. We will then continue to work with your estate planning attorney to monitor the plan.

Help your beneficiaries.

Everyone will not have a taxable estate. However, regardless of the size of your estate, it remains important that we keep you current on any potential liabilities associated with your estate. Ensuring loved ones are taken care of and provided for is a top priority for individuals and their families. This is why it is important to know what you will ultimately be able to pass along through your estate.

To start planning how much of your estate you will be able to bequeath to your beneficiaries, you will need to determine if you have a potential estate tax liability. If you have a taxable estate, our planning process will implement strategies to mitigate a potential estate tax, and hopefully, increase the amount you can pass along to your loved ones. Monitoring the value of your assets will help determine if any adjustments need to be made. We will assist in implementing additional tax reduction strategies for your family and beneficiaries. Some of these strategies include:

  • Annual family gifting
  • Education planning for family and grandchildren
  • Charitable trusts
  • Converting taxable retirement accounts to non-taxable retirement accounts

Start planning early.

The perception that you don’t need an estate plan until you are nearing retirement is not true. Regardless of your age, implementing an estate plan is necessary so that you control the final disposition of your assets as well as ensure they pass to your intended beneficiaries. No one likes to plan for the unexpected, but life is full of uncertainties. A well-executed estate plan will help mitigate the risks of an unforeseen circumstance and prioritize the well-being of your family and beneficiaries.

As financial fiduciaries, it is our responsibility to help you manage your estate per your goals, and plan so you have the resources available to care for loved ones. So many defer drafting an estate plan because it is unpleasant to think about life’s what-ifs, but it is necessary to start planning. Working with your advisor at Plotkin Financial Advisors (PFA) will help you along the way, by offering accountability, and alleviating the stress of developing an estate plan. To learn more about our Signature Services or how we can assist through the estate planning process, please feel free to reach out to contact us.

Contact Us Today!

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