estate planning

Estate Planning is about helping your lawyer do the best job he possibly can for you and your heirs.

So let’s start with your will. Is it up to date? Are you sure?

It’s so easy to let your assumptions become a substitute for proper estate planning because it is not the most pleasant of subjects. Even though you know how wrong assumptions can be, many of us make one or more of the following common errors: 

1. You’re pretty sure your will is up to date plus your lawyer is on top of everything, isn’t he?

2. Surely one of your financial advisors has got everything covered in regards to estate planning, right?

3. Besides, how complicated can your estate be anyhow?

The facts are:

1. Wills often go out of date simply because no one is advising your lawyer about the changes in your life.

2. If you are not meeting with an estate planner every year, it’s likely that your estate plan is incomplete and your assets are at risk.

3. Your estate includes all of your assets and all of your liabilities. It is further complicated by the fact that you will want to pass your estate on to your heirs with minimum taxes and intervention by the legal system.

So how do you avoid the assumptions trap?

Get your lawyer properly engaged. Make sure he or she can see the big picture. Your plan has to show all of the assets that are included in your estate and who you wish them to go to. It also has to highlight what the tax and other financial implications are. With this kind of thorough overview, a will can then be prepared that helps avoid family squabbles and minimizes taxes.

Okay. So where does this big picture come from?

You need a good estate planner. Someone you trust. Someone who understands the entire picture, like a Net Worth Advisor.

Is a Net Worth Advisor right for you? 

The service is only appropriate for individuals and families with a household income of  $500,000 or higher, investment assets in excess of $750k or a net worth of at least $5 million.

If you prefer to learn more first, we invite you to download our white paper.

If you qualify and you think having complete control over your net worth would be a worthy goal and a nice change, we invite you to Contact Us to book a private conversation.