If you are contemplating a meeting in relation to your estate planning, you should educate yourself about the concept of wealth transfer. Wealth transfer refers to passing on assets or wealth to beneficiaries after you pass away. Wealth transfer strategies can include tactics such as estate planning, the use of trusts, wills, or life insurance. Plenty of people use a combination of these tools in order to accomplish their wealth transfer goals. All of these strategies should be in line with tax efficiency.
Regardless of the size of your overall estate, most people want to know that their assets will be transferred to the people they select at the lowest possible tax rate while also empowering the highest rate of interest earned as well. Incorporating these decisions in line with the potential tax consequences for any beneficiaries can be helpful but a confusing process.
Having a team of professional advisers including and estate planning attorney in Pasadena, a CPA, and a financial advisor could assist you with arriving at the right conclusions about your own estate planning.
Our Pasadena estate planning lawyers have extensive experience in assisting you with crafting a wealth transfer plan with your family in mind. While wealth transfer strategies are at the top of the priorities list, we believe in a holistic estate plan.
We begin by taking an inventory of all of the assets inside your estate. While many of these assets might have direct financial value, other elements of your estate might have more sentimental value for your loved ones. These are no less important than the ones with a high asset value attached, because all of this information should be included in your estate plan.
We use a combination of different strategies and tools to recommend a customized plan for your future. Most estate plans will also incorporate planning for what will happen during your life as well as for what will happen to your assets after you pass away. If you are ready to discuss your comprehensive estate plan in Pasadena, schedule a consultation with our attorneys now.