Estate planning is the management and division of the estate(assets) one acquired throughout your life. It ensures that the chosen beneficiaries receive what they’re entitled to, should a person become incapacitated or die. The process includes managing the will, trust, and accumulated assets. Remnant Advisory acts as executor for the deceased’s estate. Continue reading if you are ready to plan for the future.

The benefits of estate planning

Estate planning does more than manage an individual’s property, assets, etc in the event of ones passing. The estate executor will ensure that there is a proper distribution of assets. They protect the interests of the chosen beneficiaries and their shares as specified and preserved. The estate plan helps speed up the transfer of an individual’s assets to the beneficiaries, leaving no room for speculations and confusion. This will prevent disputes and save time and money.

Lastly, estate planning is a good way to minimize estate taxes. The loss or partial loss of one’s estate to taxes should be a motivation to start an estate plan. Planning can reduce or eliminate taxes through trusts as part of one’s will, living trusts, or bequeath gifts to loved ones during their lifetime.

Purpose of having an estate planner

Estate planning was once considered something that only high net worth individuals needed. These days, middle-class families also need to plan for the possibility of something happening to breadwinners. Even if you’re only leaving behind a second home, if you don’t decide who receives the property when you pass away you won’t have any control over what happens to it.

Contact Remnant Advisory today to protect your assets and ensure that your family is taken care of. We can tailor a strategy to your specific financial needs and draft all necessary documentation to support best execution of your legacy.