Cornerstone Logo Fee-only Personal Financial Planning and Investment Management
Blue Divider
happy clients - family of five

 

 

Estate Planning

After a lifetime of saving and investing, many people wish to leave a financial legacy to their children and grandchildren, other family members, or their favorite charitable organizations.  Do you know which strategies will be most effective in helping you maximize your financial legacy?  Working in concert with your estate planning attorney, Cornerstone can guide you through the choices and help you craft and implement the right plan for your situation and goals.

 

Every adult should have the following estate planning documents:

  • Will
  • Durable Power of Attorney
  • Heath Care Proxy 

In addition, depending on your circumstances, you should consider adding the following documents to your estate plan:

  • Homestead Declaration - if you own your home.
  • Living Will
  • Trust(s) - if needed to solve specific problems, to avoid probate, or to minimize estate taxes. 

These estate planning documents are designed and crafted to answer some of these questions:

  • Who do I want to receive my property when I pass away?  Should I give the property directly to them, or should I make provisions for its careful management and disbursement by someone that I trust to carry out my wishes?
  • Who do I want to raise my children if I am no longer here to do it?
  • If I can’t make medical decisions for myself, to whom do I want to give the authority to make those decisions for me?
  • If I can’t manage my financial and/or personal affairs, whom do I want to empower to handle those things for me?
  • How can I minimize or eliminate estate taxes?
  • How can I protect my assets from lawsuits or creditors?