ESTATE PLANNING SERVICES

Along with basic information about you, like your name, address, and signature, most wills include:  

• The assets to be distributed  
• Beneficiaries to receive each asset  
• List of your debts  
• Named guardians (for minor children)  
• An appointed executor for your estate

An estate plan provides details about how your property and assets will be distributed upon your death. Here are the basic items to check off while creating your plan. Our advisors can help you every step of the way:  

• Make a list of your assets   
• Make sure your family is taken care of   
• Establish legal directives for your finances and healthcare   
• Choose beneficiaries and backup beneficiaries for your insurance and retirement accounts   
• Know your state’s estate and inheritance tax laws   
• Review your plan regularly 

A will breaks down how you want your assets distributed after your death. A trust involves you giving a trustee the right to hold title to assets on behalf of a beneficiary. Once you die, the trustee then passes ownership of those assets to your chosen beneficiary. There are two main types of trusts: revocable and irrevocable trusts.  

Revocable trusts allow the grantor to make changes or cancel the trust during their lifetime, offering increased control and flexibility. Irrevocable trusts cannot be altered or revoked once the grantor has created them. While they are less flexible, they help preserve assets and reduce your estate taxes. Estate planning services will help you determine the right trust type for your needs.  

Though it might seem early, it could be a good idea to start building your estate plan as soon as you become a legal adult. This way, you’ll be able to keep track of your assets over time and reassess your plan as life circumstances change, such as when you start a family or buy a house.