Most every one has an estate! Some are larger than others are, of course. Some include a home, cars, checking accounts, and sports memorabilia.It is important that your estate, whatever its value, is handled properly after your death. If it is, it can ease financial and emotional burdens on your family.
We can help you crate an estate plan that fits your needs. We encourage you to assemble a team of professionals, including a knowledgeable Wharton representative, to assist in this process. An attorney, an accountant and a banker all can offer valuable advice.
There are many questions to be addressed: |
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Estate Taxes
This is a major concern to most people. This can significantly impact the amount of assets that are ultimately transferred to your heirs. Proper planning will ensure that your hard work and its' benefits can be passed along to your family.
These taxes can be paid from the assets fo the estate, but this obviously impacts the value of the estate. Life insurance provides an excellent source of funds to pay the taxes. The cost of the policy can be minimal when you consider to the value that it is providing. By establishing a life insurance trust, the proceeds from the policy can be provided without being subject to taxes.
Monitor Your Plan
Even with a established estate plan, it requires a review on a regular basis. We, at Wharton, will speak with you periodically about lifestyle changes, income changes, etc. so that the program continues to meet your needs.
