Estate Planning involves the development of a plan that determines how your assets will be distributed at your death. Without estate planning, you will not have a say in the distribution of your property and assets. It may go to others, such as the Federal Government instead of your loved ones. Proper estate planning should take into consideration your personal goals and objectives. It is important to have a clear and precise understanding of what you want to accomplish in order to formulate a successful estate plan. The following are examples of goals and objectives that should be considered in the development of an estate plan.

• Provide financial independence for your family
  
• Ensure that your property is preserved and passed on to your heirs
  
• Avoid disputes among family members, business owners, or third parties (such as the IRS)
• Provide for your children’s or grandchildren’s education
  
• Leave a gift to your favorite charity
  
• Avoid probate
  
• Maintain control over or ensure the competent management of your property in the case of incapacity
  
• Minimize estate taxes and other costs
• Transfer ownership of your business to heirs, partners, etc.

At Peoples Financial Advisors we can work with you to develop an estate plan, determining the best techniques to accomplish your goals and objectives.  We work with local professionals to help facilitate your plan.

If you believe you have a need for Estate Planning or would like to learn more, click on the link below.