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Have you made the necessary arrangements to protect your family?
Why You Need An Estate Plan
Everyone needs an estate plan. An estate plan allows you to direct how and to whom your property will be distributed after your death. If you have no estate plan at all, your property could be distributed according to your state’s intestacy laws without regard to family needs or your desires.
After your death, an estate plan alleviates undue stress on your family by simplifying the administrative burden of settling your estate. In addition, estate planning can help you reduce or avoid certain taxes and, most importantly, allows you to specifically decide how your assets will be distributed.
The professionals at PDR will assist you in every step of the estate planning process and will help you to make the most appropriate financial and personal decisions. We will also work with you if it becomes necessary to select additional legal, trust and financial advisors.
Although estate planning is a very personal process, there are outside professionals who must be involved to ensure that your wishes will be carried out as you intended. Some of the professionals include:
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Your accountant is perhaps the most valuable member of your estate planning team. He or she isknowledgeable about the many tax laws and financial planning options that can maximize your estate. In addition, as a result of yearly tax season meetings, you probably have the closest relationship to your accountant relative to other advisors. Your accountant is perhaps the most informed regarding your personal concerns and is, therefore, better equipped to make financial decisions on your behalf.
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| Attorney | |
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The expertise of an attorney is essential in assuring that your plan is in compliance with all applicable laws. An attorney will also be present at the time of estate probate. |
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| Executor | |
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An executor will have to be established when you write your Will. Your executor will administer your estate and distribute your assets to your beneficiaries, as directed. |
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| Trustee | |
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If you have established a trust for your heirs, you must appoint a trustee to manage the trust assets. |
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| Financial Advisor | |
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Selecting an insurance policy is an essential part of the estate planning process. A financial advisor is able to inform you of the various options available and the relative benefits and drawbacks of each. It is important to choose the most appropriate policy for your situation in order to ensure that your family is prepared for any financial obligations after your death. |
Call us today and we will be happy to explain our services in more detail.
