Estate Planning

Inheritance can be a loaded issue. By being clear about your intentions, you help dispel potential conflicts after you’re gone. Regardless of your net worth, it is important to have a basic estate plan in place. Having an estate plan ensures that your family and financial goals are met after you die. When putting together a plan, consideration must be taken of both federal and state laws governing estates. An estate plan consists of, a will, assigning a power of attorney and a living will or health-care proxy (medical power of attorney). For some people, a trust may also make sense.

Understanding your assets is a good place to start. Your assets include your investments, retirement savings, insurance policies, and real estate or business interests. A will states exactly where you want your assets distributed when you die. It’s also the best place to name guardians for your children. Dying without a will can be costly to your heirs and leaves you no say over who gets your assets. Even if you have a trust, you still need a will to take care of any holdings outside of that trust. Ask yourself: whom do you want to inherit your assets? Whom do you want handling your financial affairs if you’re ever incapacitated? Whom do you want making medical decisions for you if you become unable to make them for yourself?

At Halpin Partners, we can tailor a plan for you to give you peace of mind that your assets and family are taken care of at the most difficult time of their lives.