How 4 Things Will Change The Way You Approach Trust And Estate Planning
Trust and estate planning attorney guarantees that all of your financial, physical, and digital possessions are inherited by the people you desire when you pass away. If you die intestate, the law may not consider your ties or preferences while distributing your possessions. The wealthy aren’t the only ones who benefit from estate planning. Even if you don’t have a fancy property, a massive IRA, or precious art to pass on, settling your affairs after you die might have a long-lasting—and expensive—effect on your family if you don’t prepare ahead of time.
If estate planning was formerly seen as something only the wealthy required, that has changed. After all, you don’t have to be extremely wealthy to succeed in the stock market or real estate, yield assets that you’ll want to leave to your heirs. The person you decide to inherit your second house from will not be able to control what happens to it if you do not specify who inherits it. The most important part of estate planning is naming successors to your assets, whether they’re a vacation home or a stock portfolio.
Epic Services eStatePlan
Epic services have developed a cloud-based estate planning application that is fit for the twenty-first century. When you use the cutting-edge estate planning and medical readiness system, you can rest assured that your affairs are in order no matter what the future holds. You can rest easy knowing that you’ve put everything in place, that your papers are up to date in real-time, and that you can share them with the individuals you want. You have just taken command of your estate plan with epic financial consulting, the easiest, most efficient, and cost-effective approach to guarantee your legacy is carried out precisely as you choose.
Four best things about Epic Services eStatePlan
A password-protected, subscription-based Client Console manages all eStatePlanTM user dynamics and benefits. The Console is a secure, cloud-based platform that allows users to construct, monitor, save, and make limitless changes to their estate plan.
Client Members Get Full Access to the Portal.
The eStatePlan 90-day FREE subscription included with the purchase gives all patrons full access to the Client Console. This implies you’ll be able to adjust your estate plan as needed to meet changing family planning goals. You’ll also be able to provide family members, legal counsel, tax consultants, and others access to the Console.
Digital Implementation & Electronic Funding
Cloud-based eStatePlanTM digital funding has revolutionized how living trusts are funded, thanks to the speed, efficiency, and convenience of electronically implemented asset transfer ledgers that replace the otherwise commonly used and accepted front-end entitlement process.
Log in as a Corporate Trustee or Executor.
The time-consuming and frequently complex procedure of acquiring and retrieving client information related to the client’s estate plan is no longer necessary with eStatePlanTM. This data will be saved in the eStatePlanTM cloud and accessible by the corporate trustee via the Trustee Login interface.
For All Parties, a Seamless Integration
The eStatePlanTM platform promotes and encourages interconnection between all stakeholders, including:
- The grantor/client.
- The Client Management Services (CMS) office.
- The client’s designated investment epic advisors.
- The client’s primary insurance agent.
- The client’s designated counsel.
- The client nominates the replacement (corporate) trustee.
Reasons for an eState plan
There are six reasons why you should have an estate plan.
To Make Provisions for Your Own Needs
While most people think an estate plan is something you need when you die, few understand it may also safeguard you and your possessions if you become ill or unable to make choices for yourself. Consider what insurance you’ll need if you’re no longer able to provide for yourself after assessing your cash flow needs in the years leading up to retirement and beyond. Consider appointing a healthcare proxy or power of attorney who, if required, may make medical and financial choices on your behalf. If you’re unable to speak for yourself, discussing your goals with individuals you trust can guarantee that your requests and requirements are realized.
To Secure Family Wealth
Throughout your life, your assets may be challenged in various ways. As individuals become wealthy, they are increasingly vulnerable to frivolous lawsuits that try to take advantage of their hard-earned money. An Estate planning firm protects your family’s fortune by transferring assets out of your name and into legally-protected vehicles like trusts or limited liability companies. Insurance is also important—in addition to the fundamental areas where it is required, various forms of insurance may help you build your estate or protect you from a range of legal issues.
Transfer Taxes as Low as Possible
Suppose you or your family has amassed a significant amount of money and wish to pass it on to other family members or loved ones after your death. In that case, the estate planning process can assist you in devising a strategy to do so in the most tax-efficient manner possible. There are three sorts of taxes to consider when transferring money: estate tax, gift tax, and generation-skipping transfer tax. Because the IRS establishes restrictions on how much money you may transfer and to whom you can transfer it without being taxed, a solid estate plan specifies a wealth transfer strategy to minimize the taxes you or your estate incur.
Young Children are Protected by Having an Estate Plan.
Nobody wants to die early, but if you have minor children, you need to be prepared for the worst. This is where the will element of an estate plan comes in. When both parents die before your children reach 18 years old, you should appoint guardians. This will guarantee that they are cared for in a manner you approve of. Your children will be raised by the courts if you do not specify these guardians in your will.