Creating an estate plan that fits your needs can be a daunting task because of the sheer number of considerations that need to be taken into account. You have to select good fiduciaries, guardians for children, who will be able to manage your affairs, to whom and how to pass your assets. And if that wasn’t difficult enough there are certain assets such as your IRA and Insurance that is not controlled by your will, so your beneficiary designations on those must match your over all plan. It even gets more complicated if you have a child with special needs or specialty assets such as firearms that have restrictions on who can own them.
With all of these considerations and possible complications it is clear that Estate Planning is a team sport. You are the captain of the team that sets the goals. You will also need a good attorney that you trust to advise you of your options on how to meet those goals. You will also need a good financial advisors and an accountant that you trust to provide you with the proper tax advice and financial tools to establish your estate plan.
We would love to escort you through the process of making the tough decisions involved with creating your estate plan. Our process is designed to make the planning process as smooth as possible. We will even help maintain your plan and ensure that your plan always meets your wishes no matter what changes take place.
The Estate Planning Process: Dealing with your own mortality and all of the difficult questions that entails can be stressful. Sometimes just knowing where to start can be quite helpful. The Fawcett Consulting Estate Planning process is designed to guide you through making the important decisions that you need to make to create a comprehensive estate plan.
Estate Plan Maintenance: Your estate plan is designed to meet your wishes, but what happens when your wishes, your circumstances, or the laws change. For an estate plan to work it has to be kept up to date. We offer several maintenance plans that are designed to take the pressure off you and place it on us to keep your estate plan current.
Legacy Planning: Estate planning, necessarily so, focuses on handling your assets, wealth, or debts. However, you are more than your net worth. When you are gone, what do you want your family to remember about you? In addition to estate planning we also want to help you use common estate planning tools to pass on your aspirations, dreams, and values to the next generation.
Special Needs Planning: If you have a family member with special needs it may not be possible to simply leave them money in your Will. You may need to set up a Supplemental Needs trust, so that your loved one will not lose the public assistance that they rely upon.
Gun Trust: Firearms, being regulated by both the federal and state governments, present some unique issues for both estate planning and ownership. There are even more issues when those firearms are NFA items.