ESTATE & TRUST PLANNING

You have worked hard your entire life to build wealth and grow your business, but have you considered what will happen to your hard-earned assets through retirement and beyond? Estate and trust planning are realities and responsibilities we all must face sooner or later. Without a will your assets will be distributed according to state law and not necessarily according to your wishes. At Sol Schwartz & Associates, our highly trained professionals are ready to help you navigate the often intricate and complicated process of transferring your assets to the intended recipients with the least amount of difficulty and administrative cost, while assuring that your wishes are carried out as you intended.

Alternatively, if you are the beneficiary of a trust, you will may have questions and concerns from that perspective, such as trust distributions and taxation. Our team is deeply experienced in working with complex situations, sophisticated structures and challenging trust issues that require a special level of experience and analytical thinking far beyond simply plugging in numbers and filling out forms.

How to start planning for the future:

Choose a team of trusted professional advisors – including a CPA, an attorney and a wealth advisor that can work together with you, your family and your investors to develop a plan of action and a customized estate plan. This includes reviewing any wills, trust instruments and schedules of assets, examining any family-owned business issues, identifying liquidity problems and reviewing the plan with your family to ensure that there’s a mutual understanding of your tailored plan and a commitment to it.

Select your personal representative and trustee carefully, as they will succeed you in managing your affairs. Keep in mind that the job can be time consuming and complex, and that whomever you choose needs to be objective and fair with your beneficiaries in order to protect all of their interests.

Start early by having your will and/or trust agreement in place. Make sure your estate plan reflects your true intentions and wishes, and share the plan with those who will carry it out to ensure its proper implementation.

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