Estate planning is the process of planning for the transfer of wealth and assets after death, and involves how assets will be preserved, managed and distributed.
A proper plan can help an individual minimize gift, estate, generation skipping transfer and income tax. Estate planning can also put in place a plan for the management of your property or financial obligations should you become incapacitated.
The goal of estate planning is determined by your specific goals and may be simple or complex. Regardless of your age, or the size and complexity of your estate a properly prepared plan can provide comfort, knowing that you have a plan in place that provides for the safe and manageable transfer of assets in accordance with your wishes, goals and objectives.
Every individual situation is unique. At First National Trust & Wealth Management we are here to answer your specific questions and help guide you through your estate planning process.
Contact us today to discuss estate planning strategies.
When John recently lost his wife Betty to cancer, their children were surprised to find out that neither John nor Betty had life insurance. As a result, the children ended up paying the cost of the funeral, and John, currently on a fixed income, is left contemplating whether he can afford to stay in the home they had lived in for over 25 years.
Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget.
There are many ways that we support our favorite charitable causes. However, one of the most beneficial ways to support a favorite charity now and into perpetuity is through planned giving.
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