Estate Planning

Why You Should Consider an Estate Plan

If you own something, you should have an estate plan to efficiently transfer property. Even if you think everyone knows your wishes, the government or your family might have different ideas. Estate planning does not have to be expensive or complicated, and the benefits can be tremendous.

An Estate Plan can:

  • provide a means to pay for federal estate taxes and other expenses related to your death 
  • provide income to your loved ones 
  • provide for the disposition of your business 
  • distribute your assets to family members with the least amount of shrinkage or loss possible 
  • provide for a child with special, long-term needs
  • allow you and often members of your family to resolve potentially complicated and emotional distribution of assets, long before your plan will be used.

Designing a legacy consistent with your dreams and values is a personal, often intricate process. After giving some thought to your wishes, including the needs of family members you may want to consider, a Northwest Financial Advisors advisor can provide the professional guidance and estate planning advice you need and will help you value your estate by taking into consideration: 

  • your current income and likely future income
  • your annual expenses
  • your current assets and debts
  • Estate and gift tax rules and regulations

Once your estate plan is in place, reviewing your will and other estate planning documents* periodically or when faced with a significant life event, will be an easy to manage task. 

To learn more about estate planning and how it fits into your financial plan, contact us.  We look forward to being of service.

*A licensed attorney in your state of residence is needed to draw up wills and trusts. Legal services are not offered by LPL Financial or Northwest Financial Advisors.