Estate Planning: Setting your Family Up for Long Term Success

Estate Planning is a major focus for Kelley Insurance & Financial. What we have found over the years is most people’s “plan doesn’t fail”, we find that most people “fail to plan”. We generally also see the same mistakes made time after time. Therefore we have made a list of the top Estate Planning Goof Ups please review this list. We find that a lot of people would rather ‘put off’ Estate Planning until another time, as it is not the most comfortable topic of discussion and there are decisions that need to be made which are sometimes difficult. However, the consequences of doing nothing can be a real disaster!

Setting Goals and Asset Analysis  

Effective Estate Planning generally starts with getting all your facts and goals in order and a comprehensive inventory of your assets (including ownership and asset cost basis). It is very important to start with all the facts so that the right recommendations are ultimately made. This process will also expose any potential Federal and/or State Estate tax liability.

Estate Plans are Tailored to Your Unique Needs

No two Estate Plans are exactly the same, because everyone’s financial and family structure is different. For instance, people who have children from a previous marriage sometimes want to make special arrangements for the ultimate return of their assets to their children after the death of their spouse by utilizing a QTIP Trust. Individuals that own a family business have many special planning needs, especially if a family member wishes to continue the business. You may have a child with Special needs to plan for. Perhaps you do not have any heirs but would like to do Charitable Giving planning. These are just a few examples of serious concerns that people have when doing Estate Planning, which if not addressed and worked out beforehand can cause a lot of family contention, unnecessary taxes, costs, legal expenses, and trouble.

Kelley Insurance and Financial Is Committed to Your Family’s Future

Kelley Insurance & Financial has developed the most competitive product solutions for your Estate Planning needs. We also have established relationships with top Metro area law firms, specializing in Advanced Estate Planning so that your Estate Plan is properly coordinated. In addition to providing product Solutions, many times our function is to orchestrate activities between a ‘team of professionals’ such as Attorneys, CPAs, and Trust Officers, which is necessary to accomplish a complete Estate plan. Call our office today and schedule a review of your situation and be certain your Estate Plan is current and that you have taken advantage of all possible planning techniques to maximize your family’s interest and minimize Estate shrinkage. So that the ones you care about and have worked so hard for receive the legacy you intend for them to have.