An effective estate plan preserves and distributes assets, both during your life and upon your death. It accomplishes your personal and family goals and eases the management of your financial and legal affairs, as well as minimizing taxes if your estate is large enough for taxes to be of concern. When we talk about an estate, we mean all assets of any value that you own, including real property, business interests, investments, insurance proceeds, personal property and even your personal effects. An “estate plan,” generally, refers to the means by which your estate is passed on to your loved ones on your death. Estate planning can be accomplished through a variety of methods, including: Revocable Living Trusts, Wills, Lifetime Gifting, Joint Ownership and Beneficiary Designations.
Problems arise when people don’t understand all of these options and make an unwise choice. By seeking the assistance of Hoffman & Hoffman, we help you coordinate all of the possible methods of estate planning based upon your individual goals and desires. By having Hoffman & Hoffman assist in creating your estate plan, you will ensure that your estate passes to whom you want, when you want, and is carried out in the manner you have chosen. You can be assured that your family won’t have to endure the public process and costly matter of probate and the government will not re-tax money which was taxed when you initially earned that income. Your nest egg that you spent a lifetime creating, will not be lost to the government upon your death. Additionally, you can ensure that your minor children are cared for by who you choose, not who the court chooses after your death.
Hoffman & Hoffman has worked with over a thousand clients to ensure that their estate plans are up to date and accurately reflect the client’s desires.