No matter what your age is, it’s never too soon to start the estate planning process. Getting your affairs in order now can give you the confidence that comes with knowing how your assets will be distributed after your death. Legacy planning also gives you the ability to manage those assets over your lifetime and determine how you want your healthcare needs met should you become incapacitated.  

Understanding the Estate Planning Process

Determining what to do with your assets after you die is about more than making a will, though this is an important component. The process may also involve determining who is to be the executor, identifying beneficiaries, allocating charitable donations, and establishing trusts. You can also set up your own funeral arrangements. The essential documents in a legacy plan include:

• A living will and will
• Revocable and living trusts
• A durable power of attorney
• Life insurance trusts
• Healthcare proxy trust

With a strong estate plan, you minimize the tax burdens for your heirs and establish clear, legally binding guidelines for how you want your assets distributed. An estate planner can help you navigate the planning process.

Getting the Advice You Need

At Independent Financial Services, we have the experience you need to guide you in creating your estate plan. Let us help you take control of your legacy.