Advice and guides to help improve

Estate Planning

An estate plan is an important part of any ongoing financial planning process. Estate planning needs to be started as soon as one has accumulated a measurable asset base. It’s never too early to prepare an estate plan.

South CPA & Associates estate planners spell out your wishes about how you want your assets to be used in the event of incapacitation or death. This may include using your assets to help secure your family’s future or you may choose to support another cause, such as a charity, your alma mater, or your place of worship.

Some of the major tasks included in an estate plan:
– Identify all assets
– Create a will
– Set up trust accounts in the name of beneficiaries to limit estate taxes
– Establish a guardian for living dependents
– Name an executor to oversee the terms of the will
– Create/update beneficiaries on life insurance, IRAs and 401(k)s
– Setup funeral arrangements
– Establish annual gifting to reduce the taxable estate
– Setup durable power of attorney (POA) to direct other assets & investments
– Revisit your estate plan regularly

Assets and goals shift over time and inadequate estate planning can cause undue financial burdens and hardships for all concerned. South CPA & Associates planners will adjust your plan to reflect your changing needs, offer advice and file the necessary paperwork to make sure your resources go where you want them.