Estate Planning

Service Description

An Estate Plan is a comprehensive set of documents that outlines how a person's assets will be managed and distributed after their death or in the event of their incapacity. It ensures that one's wishes are followed regarding their property, financial affairs, and healthcare decisions. In addition to your lawyer preparing a Will and Powers of Attorney, etc., the following are other extremely important items that an accountant/financial planner can assist you with to have a more complete Estate Plan: • Evaluating insurance coverage (do you have sufficient coverage?) • Reviewing ownership structures (which assets will pass through your estate or outside your estate?) • Review beneficiary designations on registered plans and insurance policies • Planning to minimize probate fees and income taxes at death • Evaluating advanced estate planning opportunities (the use of trusts, etc.) • Consider charitable giving • Review pre-planned funeral arrangements. • Prepare a personal, written Net Worth Statement (assets and liabilities) Caution: In order to avoid probate fees, control over assets is sometimes delegated which in some situations could result in adverse consequences. Probate fees as a percentage could be considered minimal. Estate Planning fees for the services listed above start at $ 490.