Estate planning

- a key to wealth management

Estate planning is an ongoing financial planning process and should be started as soon as one has any measurable asset base. As life progresses and goals shift, the estate plan should move to be in line with new goals. Lack of adequate estate planning can cause undue financial burdens to loved ones, because estate taxes could exceed 40%.

Haisman Wealth Management Inc. and its consultants provide innovative estate and financial planning ideas to assist in achieving your wealth management goals.

Some of the major estate planning tasks include:

  • Creating a will or trust(s)
  • Limiting estate taxes by setting up trust accounts in the name of  beneficiaries
  • Establishing business buy/sell survivorship arrangements
  • Setting up creative pretax retirement planning programs
  • Establishing a guardian for living dependents
  • Naming an executor of the estate to oversee the terms of the will
  • Creating/updating beneficiaries on plans such as life insurance, IRAs and 401(k)s
  • Setting up funeral arrangements
  • Establishing annual gifting to reduce your taxable estate
  • Setting up durable power of attorney (POA) to direct other assets and investments
  • Establishing what is known as advanced directives of what you wish done under certain future circumstances

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