The Five Components of Estate Planning
The estate planning process can seem daunting at first. There is a lot to consider, and all the decisions that must be made are very important. Here, our estate planning attorneys lay out the five main components of estate planning:
1. Wills and Trusts
2. Durable Power of Attorney
3. Medical or Healthcare Power of Attorney
4. Medical or Healthcare Power of Attorney
5. Beneficiary Designations
These five components will give you a good start on a comprehensive estate plan. One of our experienced estate planners can help you at One Less Worry. Schedule Free Consultation today.
What is Estate Planning?
Estate planning is a process involving the counsel of professional advisors who are familiar with your goals and concerns, your assets and how they are owned, and your family structure. It can involve the services of a variety of professionals, including your lawyer, accountant, financial planner, life insurance advisor, banker and broker.
Estate planning covers the transfer of property at death as well as a variety of other personal matters and may or may not involve tax planning. The core document most often associated with this process is your will.
One Less Worry is a full-service estate planning firm that specializes in helping families plan for their future. We provide comprehensive estate planning services designed to meet each client's unique needs. Our team of experienced estate planning attorneys will work with you to create a customized plan that includes all necessary documents to protect your assets and your loved ones. We offer a free consultation to all clients, so please contact us today to schedule an appointment.
Common Questions
Is a living will worth it?
Living wills are particularly important because, in many states, your family will not have full authority to make all your decisions without it. In some cases, a court order will be required to end life support, which can be expensive and heart-wrenching.
Do you pay taxes on inherited money?
Inheritances are not considered income for federal tax purposes, whether you inherit cash, investments, or property. However, any subsequent earnings on the inherited assets are taxable unless it comes from a tax-free source.
What better trust or will?
A will does not go into effect until after you die, whereas a living trust is active once it is created and funded. This means that a trust can protect and direct your assets if you become mentally incapacitated, something a will cannot do.
What is the difference between a will and a living will?
With a will, you choose who you want to inherit your property after you pass away. With a living will, you outline your preferences about future healthcare treatments in case you cannot communicate your wishes to doctors and loved ones.
Benefits
Why work with One Less Worry?
Our Principles
We use the The New Generation Retirement® system which is based on our three core principles – Fiduciary, Transparency, and Technology
Personalized Service
We don't just support our customers, we go the extra mile, don't be surprised if you get a birthday card in the mail after you work with us.
Key Partnerships
Our network of carriers and partners across all 50 states means that you'll be getting the best programs for you and your family.
Experienced Team
When you work with us, you get a team which includes CFA's, CPA's and CFP's that has been helping folks plan their retirement for more than 15 years.
Testimonials
Delivering results to our happy customers is our number 1 priority
"The benefits and the dividends will pay long into the future and long after I'm gone."
Robbie
Client since 2019
Thank you so much for your help and guidance. I finally have some peace of mind, now that we've gone over my pension, and feel like I'm way more educated and ready to take on retirement planning and anything else you recommend — thanks again!
Michael
Client since 2023
When my husband developed a chronic condition that put him out of work, we were quite literally saved by the living benefits policy that Danny helped us set up — we are forever grateful to him and his team!
Rachel & Thomas
Client since 2019
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