What is Estate Planning?
Believe it or not, everyone has an estate. Your estate is comprised of everything you own – your car, home, bank accounts, investments, life insurance, jewelry, etc. To ensure your wishes are carried out, you need to provide instructions stating whom you want to receive something of yours, what you want them to receive, and when they are to receive it. Regardless of the size of your estate, we all have one thing in common: We can’t take it with us when we die.
Estate planning is the process of anticipating and arranging for one’s assets and family during life. Estate planning typically attempts to eliminate uncertainties, expenses, taxes, conflict, and the court process known as probate and maximize the value of one’s estate. But estate planning is not just about transferring your financial assets and personal belongings. It’s also about capturing and transferring your valuable intangible gifts: Who you are and what’s important to you – your values, insights, stories, and experience. And that’s where we come in…
How can YLG help?
Unlike the traditional estate planning model, we take a holistic approach to ensure all aspects of your life are covered so that you can have peace of mind knowing that your plan will actually work when your family needs it. You’ll have the ability to protect and grow your family wealth and give the gift of ease and love for your family when they continue life without you. We are there with you every step of the way to make sure that you have a plan that fits your specific needs, that your plan works throughout your lifetime, and that your family stays out of court and out of conflict.
We provide comprehensive planning that includes the following:
- Passing your financial wealth and assets without the burdens associated with lack of planning or failed plans
- Minimizing or eliminating taxes, court costs, and unnecessary legal fees
- Passing your family wealth – your values, insights, experiences, stories, and traditions (culture, religion, education, hard work, etc.)
- Instructions for your care if you become incapacitated or disabled before you die
- Naming short and long-term guardians and “financial parents” for minor children so that they are never in the care of someone you would not choose
- Providing for loved ones who might be irresponsible with money or who may need future protection from creditors or divorce
- Guidance regarding life insurance to provide for your family at your death, disability income insurance to replace your income if you cannot work due to illness or injury, and long-term care insurance to help pay for your care in case of an extended illness or injury
- Providing for the transfer of your business at your retirement, disability, or death
- Providing for family members with special needs without disrupting government benefits
- Serving as a life-long counselor and trusted advisor to make sure your plan stays up to date as your life and the law changes