1 / 8

Important Reasons You Require An Estate Plan

<br>Estate planning preserves the wealth of your family by taking out your name from your assets and putting them into vehicles that are legally protected like limited liability entities or trusts. Estate planning services go a long way in helping you make the optimum use of your wealth. Go for Lifeline Tax here: https://www.lifelinetax.com/<br><br><br><br>

lifelinetax
Download Presentation

Important Reasons You Require An Estate Plan

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Important Reasons You Require An Estate Plan

  2. People generally associate the term ‘estate’ with the super wealthy but estate planning and estate planning strategiesare not only for the rich. An estate plan is a collection of documents that depict how you want your assets to be distributed. The plan protects you and your assets not just when you are no more but also during your life. Let us have a look at the important reasons why you need an estate plan.

  3. To Prepare For Your Needs A lot of people think that an estate plan is something you require when you die but they do not know that the plan can also protect them and their assets in the event they become incapacitated or unable to make personal decisions. Once you estimate your cash flow requirements leading up to retirement, consider the insurance you require if you cannot provide for yourself anymore. You can also consider designating a power of attorney or healthcare proxy that can make financial and medical decisions on your behalf. Good tax planning firms also offer estate planning strategies to reduce taxes.

  4. To distribute your wealth the way you want to In case you do not have a documented estate plan like a will or a living trust, your state will decide the distribution of your assets after your death. Good documentation can save your family members frustration and time and will make sure that your assets are distributed in the way you want them to. Also, a Trust or Will clearly defines the manner in which your assets will be transferred on your death.

  5. To reduce transfer taxes In case your family or you have amassed a good amount of wealth and you wish to transfer it to your loved ones once you die, the process of estate planning can assist you in developing an approach to do so in ways that are tax-efficient. When it comes to transferring money, there are a total of three types of taxes to consider- the estate tax, generation skipping transfer tax, gift tax.

  6. To safeguard your family wealth As people become wealthier, they become more susceptible to lawsuits that aim to capitalize on their wealth. Estate planning preserves the wealth of your family by taking out your name from your assets and putting them into vehicles that are legally protected like limited liability entities or trusts. Estate planning services go a long way in helping you make the optimum use of your wealth.

  7. Contact Website: https://www.lifelinetax.com/ Mobile: 5616319257 E-Mail: info@lifelinetax.com Facebook: https://www.facebook.com/LifelineTaxINC/ Twitter: https://twitter.com/lifelinetaxinc

  8. Thank You

More Related