Many of us have our own beliefs on what will happen to us after death. The life we leave behind will still be here and so will our loved ones. When it comes to estate planning things become complicated. It is rarely as easy as following the Will; in fact a poorly drafted Will from a template off the internet will make things more complicated. When creating a Will, you should always seek a professional. Please visit Peter Sialtsis for more information.

Your passing will be a stressful time for the people you care most about. Your loved ones will be the ones responsible to liquefy your assets. If a well-designed and communicated plan is not in place, the additional stress on your family will leave them confused and hurt and potentially damage current relationships. This is not your intention. Communicating your wealth transfer plan is important; executing the plan can be confusing.

The tax system is complicated and the government can and will take their share of your pie. With an estate of $500,000, you could be faced with $231,000 in income taxes (plus other legal fees). You didn’t work your whole life to give it all away. What you envision giving to your children and grandchildren has now been taken away from you.

With a proper estate plan you can preserve YOUR wealth and make sure your heirs receive the gifts you intend to leave them. You will reduce the stress of your family and your loved ones will thank you.