Know your options for transferring assets.
What assets are most vital to protect, and how are they titled?
In pursuit of the most efficient asset transfer possible, certain assets may need retitling—from your name to the name of your trust, for example. Assets that transfer by title, trust, beneficiary designation, or joint ownership are poised to avoid probate.1
Who are the designated beneficiaries of the non-probate assets?
Whether you are creating your first estate plan or revising one, some beneficiary designations may need to change to reflect your current preferences.
Should the plan change if the makeup of the family changes?
Some flexibility should be built into the plan so revisions can be made upon events like divorce, death, disability, and the addition of children or stepchildren.
What are the tax ramifications of the estate planning decisions?
The choices made may affect not only estate taxes, but income taxes of heirs.
Estate planning is just one piece to a financial plan. Though it has a significant impact on current and future earnings. The team at Wealthnest Planners can work in conjunction with your estate planning attorney to assure all assets are properly protected. Contact us today for a complimentary financial physical.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor
Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC