An “estate plan” generally describes strategies put in place to save and grow one’s personal assets with attention to retirement needs and redistribution of the funds after death.
There are several ways to develop an estate plan that meets your family’s concerns as well as some of the needs of a cherished charity:
Charitable gift by will
Charitable remainder trusts
Life insurance or Retirement Benefits
Real Estate
Charitable lead trusts
Your plan should always meet your needs and goals, which will change throughout the years. Keep your estate plan up-to-date at all times. Review it often, especially when tax laws are revised or there are major changes in your personal life or financial status. Your financial planner can help you determine what is right for you at the right time. |