Estate Planning Essentials

“It's not now much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”

- Robert T. Kiyosaki 

For those who have successfully accumulated assets, in any form, proper planning provides the peace of mind that no matter what the future holds, their financial world is in order, and those that they have sacrificed for, and love, will receive the “fruits” of their lifetime efforts.


The primary reasons for initiating a formal Estate Plan are:

  • Assuring that an Individual’s lifetime efforts are distributed according to their wishes when they pass
  • Without proper planning and establishing and updating vital documents the result will be Intestacy which is defined as dying without a Will
  • The result of this lack of planning, unless the property is jointly owned or has a named Beneficiary, is that it is subject to Probate and eventually passes according to governing State Law


The fundamental considerations that govern an efficient Estate Plan are:  

  • The actual value of Assets contained in one’s Estate
  • Who / what actually owns each asset & in what capacity it is titled (Individual, LLC, Sub S etc.)
  • Who / what is the current Beneficiary designation relative to each asset (Individual, Charity etc.)
  • What is the desired distribution intent of each Owner for each piece of property in the event of death or incapacity


Vital Estate Planning considerations & supporting documents are:

  • Wills
  • Trusts
  • Living Trusts
  • Power of Attorney
  • Health Care Directives
  • Living Wills
  • Guardianships for Minors
  • Special Needs Planning
  • Philanthropic Giving


Strategic Planning Considerations are:

  • Estate Tax considerations Federal & State
  • Titling by Contract - Beneficiaries, POD, TOD, ITF
  • Asset Protection & Property Ownership 
  • Gifting
  • Life Insurance
  • Trust planning