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INHERITANCE & ESTATE PLANNING

Giving you the tools to protect your loved ones and assets best

As a result of getting older, it is important to take the proper steps to protect your assets and property. Through inheritance and estate planning, you can retain control over what happens to your wealth. Including which family members, friends, or charities you would like to receive certain portions of your estate. By working with one of our knowledgeable financial advisors, you can establish a plan that preserves as much of your wealth as possible. Furthermore giving you the peace of mind you deserve.

What does estate planning do for you?

It is never too early to start thinking about your estate plan. Depending on your circumstances and objectives, your strategy may include the following elements:

  • Will: This is the primary estate planning document, that clearly outlines how you would like to distribute your assets and property after your passing. It may also communicate your preferences on the care of any minor children you have.
  • Trust: Many individuals choose to place their assets in a trust. With one or more family members or friends listed as beneficiaries. Your assets remain in the trust until you pass away, at which point they get distributed to your heirs. This can be an effective way to minimize taxes.
  • Power of attorney: If you become incapacitated and can no longer make financial decisions for yourself, an individual with power of attorney (known as an “agent”) can act on your behalf. This person should be someone you know and trust to make the best decisions possible.                                                                                                                         

Approaching the inheritance and estate planning process, you should be sure to consider these areas. Your current and future income needs, your monthly and yearly expenses, and your existing assets and debts (if applicable). Your financial planner will offer you further insights into the right strategies for you and your family.                                                    

Consult a dedicated wealth management advisor now!

To establish an inheritance and estate plan that best protects your wealth and your loved ones well into the future, meet with an experienced financial advisor at Strong Tower Associates. From our offices in State College, Lock Haven, Lewisburg, and Altoona, we serve clients throughout central Pennsylvania. Please give us a call at 814-325-9806 or contact us online to learn more.