7 Estate Planning Basics Today’s Professionals Need to Know

Many people believe estate planning is only for those with sprawling homes with guest houses, amenities, and luxury vehicles in the driveway. Regardless of where you're at in your life or your overall net worth, everyone can benefit from having an estate plan in place. Estate planning documents offer the same values of privacy, control, and peace of mind to those who take the time to get them in order. When done correctly, an estate plan gives you confidence that your assets will pass to who and where you want them to in a tax-efficient manner and that your loved ones are provided for after you've passed. And the best part is, it's not as complicated as it may seem.

Watch this webinar where we'll walk you through the fundamental documents used in estate planning, the situations that determine which ones to use, and the tax implications of various decisions surrounding gifting assets or leaving them as part of a will or trust. WJA Wealth Manager Glen Rives, JD, CFP®, discusses the potential legal and financial implications improper estate planning can have on families intending to transfer their assets to the next generation and how to incorporate the right estate documents to avoid those consequences. In this webinar, we also address many of the concerns and questions we've heard surrounding estate planning, including:

  • Is a Last Will & Testament sufficient for a holistic estate and financial plan?
  • Should I use a Revocable or Irrevocable Living Trust, and what are the key benefits each provides?
  • How can assets be transferred to beneficiaries, and what are the tax implications of gift and estate planning decisions?
  • Is there a certain threshold of net worth I need to meet before putting an estate plan in place?
  • How can I incorporate charitable giving into my estate plan?
  • Which estate planning strategies should I be enacting today in preparation for potential future tax law changes?

Having a comprehensive estate plan in place that compliments your existing financial strategies is a critical element in ensuring your loved ones are taken care of in the event an unforeseen circumstance arises.

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