{"id":31,"date":"2018-09-24T16:16:12","date_gmt":"2018-09-24T16:16:12","guid":{"rendered":"http:\/\/frontrangefinancial.com\/?page_id=31"},"modified":"2018-12-05T17:02:06","modified_gmt":"2018-12-05T17:02:06","slug":"estate-planning","status":"publish","type":"page","link":"https:\/\/frontrangefinancial.com\/estate-planning\/","title":{"rendered":"Estate Planning"},"content":{"rendered":"[mk_page_section bg_image=”http:\/\/frontrangefinancial.com\/wp-content\/uploads\/2018\/09\/pexels-photo-261621.jpeg” bg_color=”rgba(10,10,10,0.6)” blend_mode=”darken” bg_position=”center center” bg_repeat=”no-repeat” bg_stretch=”true” sidebar=”sidebar-1″][vc_column][mk_padding_divider size=”250″][mk_fancy_title tag_name=”h1″ color=”#ffffff” size=”40″ font_weight=”600″ font_family=”none”]Estate Planning[\/mk_fancy_title][mk_padding_divider size=”30″][\/vc_column][\/mk_page_section][vc_row][vc_column][mk_padding_divider][vc_column_text css=”.vc_custom_1538681174376{margin-bottom: 0px !important;}”]Many people believe estate planning simply means having a will. In fact, estate planning is far more complex than most people understand. It would also surprise many to realize just how much money can be saved by implementing a properly structured estate plan. The following is a list of estate planning tasks that need to be addressed, regardless of age or health.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681208642{margin-bottom: 0px !important;}”]1- Designate a team of professionals <\/b><\/p>\n

The complexity of your situation will determine the assistance you will require from professionals to create your estate plan. Your team usually includes a financial advisor, lawyer, and tax planner.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681223003{margin-bottom: 0px !important;}”]2- Create a Net Worth statement<\/b><\/p>\n

Your net worth is the value of your assets minus your liabilities. This is very helpful in allowing your executor to distribute your assets.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681234152{margin-bottom: 0px !important;}”]3- Check your beneficiary designations<\/b><\/p>\n

Some assets are able to pass directly to your beneficiary without going through the will or being subject to probate. While this increases the efficiency of your estate plan it is crucial that the proper beneficiaries are named. Pension plans, IRAs, annuities, and life insurance policies all require beneficiary designations.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681251369{margin-bottom: 0px !important;}”]4- Review your life insurance needs<\/b><\/p>\n

Work with your financial advisor to match your long-term financial objectives with your insurance needs. Proceeds from life insurance policies can be used to replace income, pay estate expenses, or leave an inheritance.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row fullwidth=”true” fullwidth_content=”false” css=”.vc_custom_1538681490819{background-color: #f2f2f2 !important;}”][vc_column][mk_padding_divider][\/vc_column][\/vc_row][vc_row fullwidth=”true” fullwidth_content=”false” css=”.vc_custom_1538681460539{background-color: #f2f2f2 !important;}”][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681275493{margin-bottom: 0px !important;}”]5- Structure your estate to minimize taxes and administration fees <\/b><\/p>\n

Your estate may be subject to income, estate, or inheritance taxes, depending on the types of assets and the jurisdictions they fall under. Proper structuring of property titles, corporations, and investment accounts can significantly increase the amount of money available to your beneficiaries.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681286470{margin-bottom: 0px !important;}”]6- Have a will prepared<\/b><\/p>\n

If you die \u201cintestate\u201d, without a will, state legislation dictates who handles everything, who gets what, and even who cares for your children.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row fullwidth=”true” fullwidth_content=”false” css=”.vc_custom_1538681454094{background-color: #f2f2f2 !important;}”][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681297583{margin-bottom: 0px !important;}”]7- Have a Power of Attorney prepared<\/b><\/p>\n

This legally binding document determines who will make decisions on your behalf if you are unable to manage your own affairs.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681309125{margin-bottom: 0px !important;}”]8- Create a list of important information<\/b><\/p>\n

One of the most difficult roles for an executor and family members is gathering the information required to settle the estate. Eliminate this concern by centralizing all household numbers for things such as your birth certificate, passport, bank accounts and insurance policies. Once you have documented your important information, store a copy online and let someone close to you know where it is.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row fullwidth=”true” fullwidth_content=”false” css=”.vc_custom_1538681446475{background-color: #f2f2f2 !important;}”][vc_column][mk_padding_divider size=”20″][\/vc_column][\/vc_row][vc_row fullwidth=”true” fullwidth_content=”false”][vc_column][mk_padding_divider size=”20″][\/vc_column][\/vc_row][vc_row][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681321136{margin-bottom: 0px !important;}”]9- Share your plan<\/b><\/p>\n

After you have gone through all the steps of developing an estate plan, the final piece of the puzzle is communication. It is important to communicate your plans to a family member or close friend whom you can trust, and who is capable of working with your advisor to execute your plan.<\/span>[\/vc_column_text][\/vc_column][vc_column width=”1\/2″][vc_column_text css=”.vc_custom_1538681329217{margin-bottom: 0px !important;}”]10- Review your estate plan <\/b><\/p>\n

Review and, if necessary, update all information at least once a year. As they say, the one constant is change, and it is important that your estate plan continue to accurately reflect your situation.<\/span>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][mk_padding_divider][vc_cta h2=”Make an Appointment with a Financial Advisor” color=”white” add_button=”right” btn_title=”CALL NOW” btn_style=”flat” btn_shape=”square” btn_color=”white” btn_link=”url:tel%3A3037944084|||” css=”.vc_custom_1538603226363{background-color: #67c146 !important;}”]Meeting with a Front Range Financial advisor is an important first step towards securing your financial future. It is an opportunity to get to know an advisor and share your goals and aspirations.<\/span>[\/vc_cta][mk_padding_divider][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"

[mk_page_section bg_image=”http:\/\/frontrangefinancial.com\/wp-content\/uploads\/2018\/09\/pexels-photo-261621.jpeg” bg_color=”rgba(10,10,10,0.6)” blend_mode=”darken” bg_position=”center center” bg_repeat=”no-repeat” bg_stretch=”true” sidebar=”sidebar-1″][vc_column][mk_padding_divider size=”250″][mk_fancy_title tag_name=”h1″ color=”#ffffff” size=”40″ font_weight=”600″ font_family=”none”]Estate Planning[\/mk_fancy_title][mk_padding_divider size=”30″][\/vc_column][\/mk_page_section][vc_row][vc_column][mk_padding_divider][vc_column_text css=”.vc_custom_1538681174376{margin-bottom: 0px !important;}”]Many people believe estate planning simply means having a will. In fact, estate planning is far more complex than most people understand. It would also surprise many to realize just how much money can be saved […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/pages\/31"}],"collection":[{"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/comments?post=31"}],"version-history":[{"count":5,"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/pages\/31\/revisions"}],"predecessor-version":[{"id":304,"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/pages\/31\/revisions\/304"}],"wp:attachment":[{"href":"https:\/\/frontrangefinancial.com\/wp-json\/wp\/v2\/media?parent=31"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}