Estate Planning
Estate tax, gift tax,
living wills, trusts, executors, probate - the
list goes on and on. Because these complex
concepts are a mystery to most people, estate
planning is one of the most frequently overlooked
aspects of financial planning. Reasons for this
include many people thinking that they are too
young to develop an estate plan, or being
uncomfortable thinking about their own demise.
Regardless of your age or net worth, no one can
truly afford to be without an estate plan. An
effective estate plan is crucial in order to
avoid losing a significant portion of your estate
to taxes. In addition, a properly structured plan
will ensure that your wishes are followed, that
fees and administrative expenses are minimized
and that your family receives the benefits of
your hard work.
The basics of an estate plan
include a review of your current legal
documentation to insure that the following have
been considered:
- A valid, up-to-date will
including instructions to your executor
concerning the disposition of your assets
either to family, friends or charity
- A strategy for minimizing
estate, gift and income taxes
- A durable power of
attorney
- A guardian for minor
children
- Trusts to hold financial
assets or life insurance policies
- A health-care proxy or
possibly a living will
The financial consultants at
Progressive have over 30 years of experience
helping people like you develop an estate plan
that addresses these and other issues. They will
use computer-based modeling to develop, compare
and present various estate planning strategies to
you in an easy to understand, graphical format.
In many cases while developing the estate plan we
find it necessary to work with outside professionals
such as attorneys or accountants. We are happy to
add your existing advisors to our team, or we can
recommend experienced professionals who are
professionals in their respective fields.
For more information about
Estate Planning please visit this other helpful
website:
Helpful Website -
Online Estate Planning Guide
At
certain places on this Progressive Financial
Planning Services Inc. (hereby known as
Progressive FPS) Internet site, live 'links' to
other Internet addresses can be accessed. Such
external Internet addresses contain information
created, published, maintained, or otherwise
posted by institutions or organizations
independent of Progressive FPS. Progressive FPS
does not endorse, approve, certify, or control
these external Internet addresses and does not
guarantee or assume responsibility for the
accuracy completeness, efficacy, timeliness, or
correct sequencing of information located at such
addresses. Use of any information obtained from
such addresses is voluntary, and reliance on it
should only be undertaken after an independent
review of its accuracy, completeness, efficacy,
and timeliness. Reference therein to any specific
commercial product, process, or service by trade
name, trademark, service mark, manufacturer, or
otherwise does not constitute or imply
endorsement, recommendation, or favoring by
Progressive FPS.
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