Estate Planning
Retirement Estate Planning
Estate planning in retirement ensures assets are passed according to your wishes, minimizing taxes, and protecting beneficiaries. Key steps include updating beneficiary designations, creating a will, setting up trusts, and planning for incapacity through power of attorney. It involves coordinating retirement income withdrawals with estate tax strategies and covering potential long-term care costs
Key Components of Estate Planning in Retirement
- Beneficiary Designations: Review and update beneficiaries on retirement accounts (401(k)s, IRAs), as these override a will.
- Will and Trusts: Establish a will to direct asset distribution and consider trusts to avoid probate or manage assets for heirs.
- Incapacity Planning: Create a healthcare proxy and durable power of attorney to manage medical and financial decisions if you become unable to do so.
- Tax Planning: Coordinate with a tax advisor to minimize taxes for both you and your beneficiaries, such as using Roth conversions before Required Minimum Distributions (RMDs) begin at age 73 or 75.
- Asset Protection: Structure assets to protect them from creditors, lawsuits, or irresponsible spending by heirs
Will & Estate Plan
Covers the basics, like who will be responsible for your children and what should happen to your assets after you're gone. You'll get the staples of an Estate Plan to specify health care wishes and final arrangements with customized and state specific documents that reflect your wishes. It includes Last Will and Testament, HIPAA Authorization, Living Will, Power of Attorney.
Individual Will $199
Couples Will $299
Trust & Asset Transfer
Your complete plan to protect and transfer your assets. A Trust prevents your loved ones from losing time and money in probate court. You'll create customized state specific documents to nominate guardians for your children, list your assets, and outline what should happen in a medical emergency. It will include Revocable Living Trust, Schedule of Assets, Certification of Trust, Last Will and Testament, Pour Over Will, HIPAA Authorization, Living Will, Power of Attorney.
Individual Trust $499
Couples Trust $599
Disclaimers
Keep in mind we are neither CPAs or Attorneys. We do not provide legal or tax advice. We are assisting only from a financial advisors position. We help you with answering common financial planning questions when preparing estate documents.
Add 50% to the total package for a local attorney review of all documents. For additional information there may be additional attorney fees.
Individual Will Review add $100
Couples Will Review add $150
Individual Trust Review add $250
Couples Trust Review add $300