Estate Planning builds wealth, preserves wealth, and conserves wealth at death and beyond. It will ensure that your assets are distributed according to your wishes, but how can you maximize the wealth that you leave behind while minimizing the taxes? After all you don’t want to create a tax burden for your beneficiaries. We do this with Estate Preservation – a plan to create, preserve, and transfer wealth both during your lifetime and upon your death which includes:

  • Ensuring that your estate is distributed according to your wishes
  • Minimizing the taxes payable as your wealth is distributed
  • Ensuring that your insurance and investment portfolios are created to maximize their potential

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Estate Preservation is a financial planning tool that deals with the liabilities that will result at death – capital gains tax, probate tax, and other estate costs. It calculates the tax liability and other estate costs and determines the total funds that will be required to cover the liability at death after which it compares different methods of funding the liability, taking the time value of money into account. This will preserve your estate for your beneficiaries by providing a plan for cost effective funding of the liabilities at death and prevents the liquidation of estate assets to pay the tax and other liabilities.

We can protect the financial assets of your estate using a variety of strategies including:

  • Using Life Insurance to provide tax-free death benefits and possibly, depending upon the policy, creditor protection. The proceeds can be used to pay debts, tax liabilities and other estate costs so the estate’s assets don’t have to be eroded or borrowed against to cover these expenses
  • Transferring your assets to your spouse on tax deferred basis
  • Giving your assets to your beneficiaries prior to your death
  • Giving your assets to a charity allows your estate additional tax relief while supporting your desired charities
  • Protecting your assets through a trust to minimize or defer tax in addition to protecting the assets against mismanagement by the beneficiaries