Estate Planning

Estate Planning-Wealth Greens
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What is Estate Planning ?

Estate planning involves determining how an individual’s assets will be preserved, managed, and distributed after death. It also takes into account the management of an individual’s properties and financial obligations in the event that they become incapacitated. Assets that could make up an individual’s estate include houses, cars, stocks, artwork, life insurance, pensions, and debt. Individuals have various reasons for planning an estate, such as preserving family wealth, providing for a surviving spouse and children, funding children’s or grandchildren’s education, or leaving their legacy behind to a charitable cause.

You not only avoid family disputes but also support your noble cause of life by efficiently planning your estates. You also reduce estate taxes by setting up alter ego trusts or joint partner trusts.

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Elements Of Estate Planning

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Will & Testament

An estate plan commonly includes a last will and testament, commonly known as a will, which outlines your wishes for the assets that you own at your passing. It allows you to name the people you’d like to leave something upon your death. It is best to draw up your will when you have significant life changes, such as getting married or divorced; once you have a child it is imperative to create a will and establish a chain of legal guardianship for your child if something were to happen to both parents. Preparing a will or testament allow you to live with peace in your last inning while transferring your estates to the right person.

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Healthcare Power Of Attorney

A healthcare power of attorney (HPOA) is a signed legal document in which you name a single person as your healthcare decision-maker in the event that you can’t make decisions yourself. It is generally best to get these documents drawn up at the same time as your will. If you have specific requirements that need detailed documentation, seeing an estate attorney is more suitable. If you want someone to look out for your health with ease, then you can do it through healthcare power of attorney. It gives authority to the person you choose to make decisions regarding your health.

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Financial Power Of Attorney

A financial power of attorney outlines who you want to make your financial decisions on your behalf should you become incapacitated. Without this document, no one will have the authority to step in and handle bill-paying, investment decisions, or other financial matters. It is best to create this document at the same time as your will. If you have health specifications or large financial assets that require detailed financial documentation, it’s best to see an estate attorney. Financial Power Of Attorney will look out for all your financial matters in place of you. If you want, you can be the main decision maker and let the other person do other things on behalf of you.

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Trust & Society

A trust is a legal entity that can own your assets (while living or at death) and be controlled based on your wishes outlined in the legal document that created the entity. For example, a trust would allow you to dictate how you wanted your child to benefit from your assets throughout their life. You may want to include stipulations that assets are used in a certain way or received at a certain time. A trust is a way to protect assets from being used in a way that you would not see fit if you were in control of them. You can make a trust to use your assets for the accomplishment of your physical or meta physical life purposes.

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Why Estate Planning?

Safe Inheritance

When you die without a will, your property can go to anyone. Better plan it beforehand and transfer it to whom you want.

Reduce Estate Taxes

You can reduce or in some cases eliminate your estate taxes by setting up alter ego trusts or even joint partner trusts.

Protect Young Inheritors

The only thing that can guarantee a secure and problem free future for your loved ones, is your perfect estate planning.

Unnecessary Probates

Probate is the involvement of the court in the estimation of your estate and transferring it to whoever the court deems.

Avoid Family Disputes

Estate planning is the ideal and most suitable method to save your family from any type of dispute, when you are not there.

Support Your Cause

You can support any social or personal cause by diverting your estates to fund it and immortalize your perception.

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Why Through Us?

Transparent Procedure

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