Estate planning is about effective planning, in advance. This can save your family money, time, and heartache when that event happens.
Most people prefer to continually put off until another day or they haven’t reviewed their estate plan in many years.
How do you want to see it handled when you pass away?
At Abelow Pratt & Associates, we’re here to walk you through that process and discovery. It is often beneficial to have a financial professional navigate the personal and financial aspect of your estate plan prior to engaging a vital component of the process: obtaining the services of a qualified estate and trust attorney.
We can also help you with:
Finding and Selecting an Estate Attorney.
Living Wills and Trust Review.
Lifetime Family Wealth Transfers.
Family Partnerships and other Business Relationships.
Leaving Money to Charities.
Preparation for Estate and Investment Tax Problems.
The uncertainty associated with estate planning can be daunting, but you don't need to do it alone. Our team is waiting to assist you through every step of the process.
Have you set up your estate plan?
Have you engaged an attorney and designed your will, medical power of attorney, living trust, or charitable trust? We work with clients to do just that. Estate planning is a team approach. Our financial professionals will work closely with your attorney and accountant to develop a comprehensive plan that incorporates the elements of an estate plan, including beneficiary designations, setting up your will, appropriate trusts, the assignment of power of attorney and a living will or healthcare directive. If you don’t have an attorney or accountant, we can assist you with finding one. If you have already set up your estate plan, you should review its goals and methods periodically (every two to three years) with your financial advisor.
Effective wealth preservation for your heirs and wealth transfer to your heirs requires prudent estate planning. An estate plan can protect you, your heirs and your interests by helping you seek to grow and preserve your assets for the future.
Did your parents leave you an existing trust?
Often, parents set up a trust for you and your siblings prior to their death. Since the death of your last parent, you and your siblings may be receiving income from the trust set up by your parents. Do you know who is managing that trust? Is it being prudently managed? Are you receiving the appropriate amounts?
With the consent of your siblings, we can help you reposition that trust, providing you with better service, holistic wealth management within your total wealth portfolio, and transparent knowledge of what's happening with it.
*The Advisors at Abelow Pratt & Associates and LPL Financial do not provide tax or legal services.