A well-structured estate plan ensures your assets are distributed according to your current wishes.  Goals may include minimizing taxes,  avoiding legal complications, keeping harmony among your beneficiaries, and making it easier for those you leave behind to carry out your wishes.

Designations should be smart – considering consequences to each individual and/or entity.  Wills, trusts, power-of-attorney (“POA”), medical directives, and beneficiary designations are some of the key tools used in the estate planning process. Designating accounts as Transfer on Death ("TOD"), using living trusts, and properly titling accounts may help to avoid probate court on the death of a loved one while safeguarding asset values from the public's view.

There are multiple factors to consider in planning how your assets will be distributed upon your death. Individuals should seek the advice of an attorney who specializes in estate planning to assist them.  Another good practice is to involve one's financial advisor and tax professional in the process.