Estate Planning
FREE Estate Planning Seminar Wednesday, October 19th 6:30pm Arizona State Credit Union 321 S Beaver Street, Flagstaff, AZ 86001 Presented by: Attorney Jared Holland Register: 928-779-1173 or from the "Request Information" form on this page
Estate planning is the collection of steps you take to ensure that your heirs (or others of your choosing) are provided for. This includes planning during your lifetime along with the distribution of assets after your passing. There are a variety of tools used to accomplish these goals including wills, trusts, life insurance policies and other instruments. They can be complex if you have a number of assets. Each plan begins in the same place: identification of who or what you wish to protect. No one likes to consider their death. However, estate planning is an important responsibility and we take our role as counselors in the process very seriously.
It is never too early, or for that matter, too late to formulate an effective plan for the protection and transfer of your assets. We believe that a proper estate plan includes more than just a will or properly drafted trust. We provide the tools you need to preserve assets and maximize tax benefits for you and your family. A good estate plan focuses on preservation during life and transfer after death. We will work with you and your financial advisors and accountants where necessary, to prepare an estate plan tailored to your situation.
Everyone hopes that their family and other loved ones will work together to ensure their last wishes are complied with. However, if your last wishes are not properly explained in an estate plan, they may be misinterpreted or even ignored. These disagreements can lead to hard feelings and even litigation among family members. A proper estate plan anticipates and strives to avoid potential future conflict. Clear and explicit instructions can remove ambiguity and avoid future challenges to an estate plan.
Although many plans have similarities, no two are identical. At McGuire Gardner, we believe there is no typical client or ordinary set of circumstances when considering the appropriate estate plan. Many clients have blended families, adult children, grandchildren, children with special needs, and a myriad of other circumstances that can impact an estate plan. We create plans to address these issues and many others. The best estate plans address as many future contingencies as possible.
An important early step is to meet with you to gain an understanding of your wishes and concerns. Only then can we provide you the best overview of your estate planning options. We will then design an estate plan that best addresses your individual concerns and helps to accomplish your goals, while at the same time addressing the myriad of potential issues likely to arise.
Estate planning is often impacted by other areas of the law, or your business or personal circumstances. Business entity formation, purchase agreements, closely held entities, and deferred compensation programs can all impact your estate plan.
Advanced Estate Planning
Where individuals have accumulated large amounts of wealth, more complex estate planning techniques may be necessary. In many cases, the primary objective of such plans is to minimize estate and gift tax liability that can arise upon the transfer of assets from one generation to another. At McGuire Gardner we use many advanced estate planning tools to minimize the gift and estate tax associated with wealth transfer, while maximizing the assets transferred. It is important for high net worth individuals to consider and evaluate all of their estate planning options. We take the necessary time to fully discuss the options with each client.
Complex estate plans should also be reviewed often. Advanced strategies are unique to the individual client, and reevaluation is often necessary based upon changed circumstances.
