Estate Planning

Because our cash flow work projects 30 years into the future, retirement is a natural time to review documents and issues having to do with Estate Planning. The recent increase in Federal estate tax exclusions has helped simplify the tax aspect of planning for most of our clients, but each family's particular dynamic usually requires some discussion and thoughtfulness. 

Some of our clients have blended families, some need to make provisions for adult children with special needs and so forth. People are naturally a little reticent about discussing their mortality, but our clients eventually very much appreciate our experience and creativity in developing plans that will help their families. Their lawyers do too! 

A key part of our estate planning process is a special balance sheet that we prepare together, which shows the value and current titling of all the family's assets; this helps not only with tax strategies but also with making decisions about which assets are most appropriate for various dispositions.  In addition to your balance sheet, we will provide you with a summary of all of your estate planning documents.  This summary will make it easy for you to revist the documents and understand how your assets will transfer to your loved ones.

Since estate planning rules and tax laws are constantly changing, we like to revisit your plan each year as part of your annual review.  Your advisors at FAI will work with you and your estate lawyers in an ongoing effort to keep your plan current.