hands surrounding a paper doll family representing Estate and Trust PlanningEstate Planning

 

How we want to take care of the loved ones and distribute assets when we are no longer physically here to do so.  We are often very emotionally committed to our goals in this area, but the planning process pulls us into talking about structures, not goals.  When asked, 80% of trust beneficiaries say their trusts are a burden, yet by the third generation of wealth creation, approximately 90% of the family’s wealth may be held in trust1.

 

A comprehensive plan tailored to your family circumstances will clarify your goals for you today and for your beneficiaries in the future.

 

Your lawyer is a key part of this area, as your lawyer develops the documents needed to map out your plan.  WD recommends information exchange and/or joint meetings with your lawyer and WD.

 

 

Questions to start
  • Who needs support or protection if you are gone?
  • Who would you like to receive assets/investments form your estate?
  • Do you have specific assets that you would like to pass to a specific person/charity/institution?
  • Are there charities that you would like to leave gifts to?
Numbers Needed
  • Existing wills and Power of Attorney
  • List of assets, including current values, purchase prices and ownership
  • List of debts
  • Life insurance policies, amounts, ownership, and beneficiaries

 

*Estate planning is most often reviewed for you at more than one point in time.  WD will review the situation for your beneficiaries today, as well as at future points.

 

1 Goldstone, Hughes and Whitaker, Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors and Trust Creators.  Bloomberg Press, 2016