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Estate Planning Considerations

Posted on Monday, March 6, 2017 in Financial Management & Trust Services

While the thought of having a personal estate may conjure images of the wealthy elite, an estate is one of the most important things for a person to have. By definition, an estate is simply the property under an individual’s name. It can include everything from a home or business, to bank accounts and retirement funds.

Taking steps to plan for the future of your estate can be one of the most important things you do. To ensure that loved ones can make the most of what you are able to leave them is one of the greatest gifts you can give.
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 calculated my net worth and considered whether estate taxes will play a role in my planning?
  • Have I created a trust to hold any property I want to pass on?
  • 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 Management, we are here to help you with your estate planning goals. We can help you review your estate planning documents and provide some financial considerations. We also have a fully staffed department to help you execute your estate plan.To schedule an appointment regarding your estate plan or any other financial planning needs, please contact Don Rahn, CFP® at 515-663-3078 or at

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