Do you have a lot of property here and there? Well then, have you ever thought what will happen to these estates or lands after you are no more? You need to start planning your properties and determine the ownership after your demise. This is why estate planning is important. It is basically the process of arranging and understanding the whole management and disposal of a person’s estate during the person’s life as well as after death while at the same time, reducing the gift, income taxes, generation skipping transfer etc. We, at Legacy Partners, can be the right choice for you. We offer you various kinds of financial planning services along with insurance programs. We are an experienced and reputed company which can offer you a team of knowledgeable individuals who can help you plan your estates perfectly. If you are located in areas like Glendale, North Hollywood, Northridge, Pasadena, Sherman Oaks, or Beverly Hills, and are looking for help with your estates, then you should resort to us.
Here, we have enlisted a few common queries that you might have about estate planning. Take a look.
- Why is estate planning helpful?
You might want to know why you need to undertake this kind of planning and how it can benefit you in the future. Having an estate plan basically allows you to analyze your financial requirements and sort of assets you have to ensure that your rightful heirs get the due share including your lifetime as well as the disposition of the property.
- What should one do while estate planning?
One of the first things that people should do is create a will. This will demarcate your properties and help you distribute your property the way you want to. Usually, people choose a health care proxy but if you feel that your assets or wealth might be taxed at state or federal levels, then you might also use the ILIT or the irrevocable life insurance trust.
For more information or directly hiring an expert on estate planning, get in touch with us now.