Estate Planning

Thoughtful estate planning doesn’t need to be scary or intimidating. The LFSW consultants will shepherd you through the process, at the pace that best fits your family. All of our initial interaction is without charge of obligation and certainly no high pressure tactics. We are focused on you and your objectives for the future first and foremost. Sound estate planning can accomplish the following goals for your future:

1. Provide for your immediate family

You can provide for your surviving spouse, particularly for spouses who don't work outside the home. You can pass your property on to your spouse and other members of your family, and LFSW will settle the estate and protect your property while the estate is being settled.

If you and your spouse should die before your children grow up, you can assure your children's education and upbringing by with the appropriate estate planning tools.

2. Provide for other relatives who need help and guidance

Do you have family members whose lives might become more difficult without you, such as an elderly parent or disabled child, or a grandchild whose education you want to assure? You can establish a special trust fund for family members who need support that you won't be there to provide.

3. Get your property to beneficiaries quickly

You want your beneficiaries to receive promptly the property you've left them. Sometimes lengthy and costly probate can be avoided by using the proper planning, all managed by LFSW if you so choose.

4. Ease the strain on your family

Ease the burden on your grieving survivors by planning your funeral arrangements when planning your estate. You can also limit the expense of your burial or designate its place, and provide for your body to be cremated or given to medical science after you die.

5. Minimize expenses

Good estate planning keeps the cost of transferring property to beneficiaries as low as possible. Using LFSW as the estate executor/trustee with the appropriate and necessary authority will save money, reduce the burden on your survivors, and simplify administration of your estate. It also will reduce a court's involvement.

6. Reduce taxes on your estate

Every dollar your estate has to pay in estate or inheritance taxes is a dollar that your beneficiaries won't get. A good estate plan can give the maximum allowed by law to your beneficiaries and the minimum to the government.

7. Make your retirement years easier.

Even though estate planning primarily benefits those you love and care about, you can also coordinate your estate plan with retirement, health care and other benefits to help you achieve the most comfortable final years while still providing for your loved ones.

8. Plan for incapacity

Healthcare advance directives (living will) and medical-care powers of attorney enable you to decide in advance about life support and pick someone to make decisions for you about medical treatment.

9. Help a favorite cause, discover your charitable intent

Your estate plan can help support religious, educational, and other charitable causes, either during your lifetime or upon your death, and at the same time take advantage of tax laws designed to encourage private philanthropy. You don’t have to have a large estate to be philanthropic.

10. Make sure your business goes on smoothly

If you have a small business, you can provide for an orderly succession and continuation of its affairs by spelling out what will happen to your interest in the business.