Giving Thanks With Your Estate Plan

Estate planning covers more than just financial matters. Indeed, many use their estate plan to pass along their values as well as their wealth. One way to do this is to give thanks with your estate plan, by designating charitable giving or specific gifts that will help ensure your legacy. It is important, however, to balance your income and the needs of your beneficiaries with the available tax incentives.

While the general purpose of estate planning is to ensure you and your family are taken care of when most needed, you do not need to contain your estate planning to financial issues. Indeed, many individuals use estate planning to pass along family history and traditions through their giving. An estate plan may specify how a beneficiary can use their inheritance such as for studying abroad, embarking on a particular trip, or other values that are important to the giver. In addition, you can choose to give to a qualified charitable organization in your will so that the gift is distributed upon your death or incapacity. Giving to charity during your life or after you have gone can help significantly reduce federal estate and gift taxes and allows you to support charitable causes that are meaningful to you. Read More

Your Estate Plan is About More than Your Money

Money is often the most talked about wealth contained within a person’s estate, however the riches of their experience and wisdom can mean even more to family members. Reinforcement of family traditions can be built into your estate plan alongside your wishes regarding your money, property, and belongings. 

There are several ways that you can tell your story though your estate plan and pass your values to the next generation.
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Tools to Help You Leave Words of Wisdom to the Next Generation

Your estate plan leaves your physical assets to your beneficiaries, and you can also use your estate plan to leave them some of the hard-won wisdom you’ve accumulated over your life. You can let your family and friends learn from your mistakes, and profit from your successes. There are many tools and options available to you to convey your property and words of wisdom to your heirs during your lifetime and after death. Read More