Effective estate management enables you to manage your affairs during your lifetime and control the distribution of your wealth after death. An effective estate strategy can spell out your healthcare wishes and ensure that they're carried out – even if you are unable to communicate. It can even designate someone to manage your financial affairs should you be unable to do so.
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Some people may want a more advanced gifting strategy that can maximize their gift and generate potential tax benefits.
There are a number of reasons for business owners to consider a business succession plan sooner rather than later.
Second marriages are a trigger event to revisit any existing estate strategies.
The money problems or bad lifestyle habits of adult children could lead to the squandering of any inheritance they receive.
The right executor may help ensure the distribution of your assets is done with as little upheaval as possible.
The care of special-needs children continues into their adult years, and may survive the passing of their parents.
Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.