Estate Planning
Transferring wealth to the next generation in a planned way.
Estate planning makes sure the people you care about are looked after, that assets reach the beneficiaries you intended, and that tax does not take more than it needs to along the way.
In practice that can involve how assets are owned, the creation of trusts, a properly drafted will, buy-out arrangements where a business is involved, and charitable giving where that matters to you.
It is not only for large estates
For one person $50,000 or $100,000 represents significant assets; for another the number only starts to feel significant above a million. The size of the estate is not what decides whether planning is worth doing — what decides it is whether your intentions would actually be carried out as things currently stand.
Because each situation is different, so is the plan. An advisor can work through yours and set out the options, coordinating with your lawyer and accountant, who remain responsible for drafting and tax filing.
Nothing here is legal or tax advice. Wills, trusts and corporate structures should be drafted by a qualified lawyer, and tax treatment depends on your circumstances and current legislation.