Estate Planning 101
Considerations to start planning your estate
What comes to mind when you think of estate planning?
Death?
Preparation of your will?
Real estate?
Rich and wealthy?
Estate planning is an advanced strategy used by the wealthy to shelter taxes on the transfer of their wealth to the younger generation. However, the same strategy can be used by the middle class to protect assets and facilitate transfers in a tax-effective manner.
Transfers of assets will often trigger taxes. So to minimize taxes, you should consider implementing some estate planning techniques to shelter taxes.
An effective estate plan can minimize tax on and after your death, and provide benefits to your surviving family members over the long term.
Estate planning is not simply about preparing your will. It involves a lot more than that. It’s a complex, lifelong process requiring reflection and expansion as you reach milestones in your life and your career.
What is an estate plan?
An estate plan is an arrangement of your financial affairs designed to…
