Estate Planning

When you want to ensure the financial future and wellbeing of your family, estate planning is an invaluable process, particularly as you progress into advanced age. It is never too early to plan your estate and it is prudent to have a will if you have any form of assets that can be inherited after your death.
Estate planning can be as simple as listing who should receive a portion of your assets after your passing, to a complex process that involves securing those assets for future disbursement to beneficiaries and delaying the payments of related taxes until well after you are gone.

Estate Planning Benefits

No matter how large or small your current estate is, you will benefit from having a plan outlining for how your assets should be managed in the event that you are unable to manage your own affairs.

    The most notable estate planning benefits include:

  • Safeguarding your estate for your beneficiaries
  • Reducing tax payments
  • Protecting your privacy with a probate
  • Appointing someone to manage your assets
  • Naming someone to act on your behalf if you are incapacitated

The true value of having a plan for your estate is in knowing that you have total control over who inherits your assets and that those assets will be distributed in exact accordance with your wishes.

The Estate Planning Process

    To determine your best course of action, our estate planners will find the answers to several important questions:

  • What is the value of your current assets?
  • Who do you want to inherit your assets and when?
  • Who should manage your assets in the event that you cannot?
  • If you have minor children, who will take care of them if you are gone?
  • Who will make decisions about your health care if you are unable to?
  • How would you like to be laid to rest after you pass away?

Once these questions are answered, along with any others relevant to your circumstances, an estate plan can be created that takes all of your wishes into consideration.

Our Estate Planning Services

At Heartland Trust Company, our estate planning process is highly personalized.
We examine your situation and determine the best options to give you the financial security you need as you get older while also maximizing the wealth that will eventually be passed down to your beneficiaries.

    There are several options for planning your estate:

  • Writing a will
  • Establishing a Trust
  • Establishing an Irrevocable Trust
  • Naming an executor

If your financial situation and asset levels change over time, we revisit your estate plan and make adjustments in accordance with those changes.

During the creation of your estate plan, we collaborate with your attorney and your tax advisor to create the right strategy to suit your asset level and your personal goals.
We also work with you to create the framework that dictates how your assets are to be distributed among your beneficiaries.

Estate planning is a complex process. It is not something you should try to do alone if you want the best outcome. If you would like guidance and assistance with creating an estate plan, call Heartland Trust Company today and we can discuss your options.

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