Estate Planning

Are you frustrated with the complexity of managing your estate without professional help?  Every year, millions of Americans needlessly stress themselves out while handling their financial matters.  This does not have to be the case.  There are numerous options for frustrated Americans to consider that are sure to relieve their financial stress.  Estate planning is one such option to consider when managing finances.  Although, it is highly recommended to consult with a Investment Advisor when handling delicate estate matters.  It never hurts to listen to the opinions of financial Advisors, does it?

Estate planning is vitally essential and considered among the most important steps any person can take to make sure that their final property and health care wishes are honored, and that loved ones are provided for in their absence.  Everyone has an estate, regardless of the size and value of their property.  How that estate is distributed upon one’s death is determined within the guidelines of an estate plan.  Unless the appropriate steps are taken, the state will determine where one’s assets go, which may not be in accordance with the wishes of the deceased.  Estate planning assures the deceased’s wishes are carried out as designated. 

Estate planning professionals can help you with handling the affairs of the deceased as they are settled through the probate process.  The probate courts can also decide issues including name changes and guardianship proceedings.  This process ensures an orderly transfer of property and is necessary to protect the estate of the deceased.  During the probate process debts and taxes are paid and asset disbursement is resolved.

A personal representative provides valuable assistance in contacting the heirs and creditors regarding the probate proceedings.  In addition, the responsibilities include collecting and taking inventory of the assets, determining the state, federal and income taxes that must be paid and what steps must be taken to settle these burdens.  Finally, the remaining proceeds will be distributed to the family members and relatives as properly designated.

Estate Planning Responsibilities Include:

• Contacting heirs and creditors regarding probate issues
• Collecting and taking inventory of deceased’s assets
• Determining and settling payments of all taxes owed
• Selling property to settle taxes if required
• Distributing remaining proceeds to designated family and heirs