Estate planning is the process of creating a master plan for managing wealth during disability or after death. The client decides to whom, how, and when assets will be distributed—ideally, at the lowest possible cost. Common issues addressed in our planning process include estate taxes, asset protection, and charitable giving.
The 7 Grains “Red Flag” Trust document can help you identify whether your wills and trusts are working in harmony with your financial goals.
Other estate planning considerations include providing financial security for family and friends, planning for children of a previous marriage, equalizing inheritances, and retiring from a family business. Though minimizing taxes is a significant goal of estate planning, saving on taxes may not be the ultimate aim. A successful estate plan also considers specific client wishes, even if they result in less tax-efficient planning.
While estate planning attorneys are responsible for drafting the estate planning documents, implementing the estate plan can often be left to the financial professional. Accordingly, 7 Grains can offer Trust Services for individuals, families, and businesses that would benefit from a Corporate Trustee.
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