Estate Planning

At Means Wealth Management, we recognize that there is no such thing as a one-size-fits-all estate plan. Estate planning considerations are as different as a family itself. For some, there may be a need to generate current income to provide for family members.

Another family may need to plan for the continued support of family members in years to come. Especially if those family members are unable to support themselves. Others may want to provide for education costs, plan charitable donations, or even establish a generation-skipping trust. Identifying your family’s needs is only the beginning.

Navigating estate planning, trust agreements, investment risks versus returns, and tax implications can be a complex, daunting task. While the creation of a trust must be done by a qualified attorney, Means Wealth Management is here to guide you through this process to create a goal-oriented, tax-efficient estate plan. Our advisors can also serve as trustees/co-trustees for certain trusts ensuring that assets are managed in a way that is consistent with the trust agreement.

Estate planning is essential to building a solid foundation for your legacy. Whether that legacy is to be carried on by future generations or by organizations, estate planning allows for a smooth transition of assets in a tax-efficient manner during a difficult time. Estate plans vary in complexity, but the underpinning of any solid estate plan must consist of three pillars:

Even the simplest estate plan begins with this essential legal document.  No matter your age or the size of your asset base, the will gives direction on where and how your assets will be divided and distributed after your passing.

Advance Health Care Directive
This document guides actions and decision making in the event you are unable to due to illness or incapacity.
Financial Power of Attorney
This document designates the person you appoint as able to make financial decisions on your behalf.

A carefully considered, well-constructed estate plan guides your impact after your passing.  We here at Means Wealth Management understand that every client’s path is unique and encourage you to contact us to discuss your legacy’s unique needs.