Anyone who owns assets has an estate.  Upon a person’s death, those assets must, by law, be properly distributed.  How your assets are distributed depends on your estate plan.  Without proper planning, a court will determine the distribution of your assets in accordance with state law.  This distribution may not be in accordance with your wishes.

Estate plans include the following planning tools:

• Will
• Durable Power of Attorney for Finances
• Healthcare Directive
• Trusts, as appropriate
• A variety of uses for insurance
• Gifting strategies

The benefits of a properly prepared estate plan include the following:

• Avoids the cost and delay of probate
• Makes sure your assets go where you want them to go
• Can reduce the amount of estate taxes payable
• Provides for the control of your assets in case you are incapacitated
• Provides for a guardian of minor children
• Can include instructions for disposition of a business
• Minimizes the emotional and financial burden on your heirs
• Can reduce feuding among heirs over your estate

At Independent Financial Advisors, we include Estate Planning as part of your overall Financial Plan.  We will coordinate your estate plan preparation with a qualified Estate Planning Attorney to insure that your estate plan is consistent with your desires and objectives.