Estate Planning

Why worry about estate planning?

In the event of your death, it is important that your estate goes to those individuals or institutions that make up your chosen beneficiaries. Estate planning is the process of determining who exactly those beneficiaries are, and managing the tax consequences of transferring your assets to those individuals/institutions. Should your estate exceed a certain value, you may be required to pay estate taxes.

When distributing your estate, you may wish to establish a will or trust which is an agreement in which you designate an executor or successor trustee to settle your estate. If you choose a will or die without a will or trust your estate may be required to go through probate.