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Estate Planning Considerations

Posted on Friday, October 2, 2020 in Financial Management & Trust Services

Hands Holding a Piggy Bank

By definition, an “estate” is simply the property owned under an individual’s name. It can include everything from a home or business, to bank accounts and retirement funds. Taking stepEstate Planning Considerationss to plan for the future of your estate can be one of the most important things you do. One of the greatest gifts you can give your family is to invest the time and effort needed to carry out your wishes.

Although estate planning may seem like a daunting task, by checking off things one at a time, you can ensure that important financial decisions are carried out exactly as you wish. Below are some items to consider for your estate plan:

• Have I met with my financial advisor and any legal professionals necessary to determine my estate planning needs?
• Have I spoken to my family, friends and any beneficiaries about their role in my estate plan?
• Have I created a last will and testament?
• Does my executor have access to all the documents needed to carry out my wishes?
• Have I considered creating a trust to hold any property I want to pass on?
• Have I calculated my net worth and considered whether estate taxes will play a role in my planning?
• Have I considered my philanthropic wishes and established a plan to give money to charity, if I so choose?
• If applicable, have I created a business succession plan?

At First Point Wealth Solutions, we can help you with your estate planning goals. We will review your estate planning documents and provide some financial considerations. We offer a fully staffed department of experts to help you execute your estate plan.

To schedule an appointment regarding your estate  plan or any other financial  planning needs, please contact Pam Fleener.

Pamela Fleener Contact info

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