| A carefully crafted estate plan can ensure | | | | family structure and personal philosophy, |
| that only your intended heirs or | | | | values and objectives of the client. |
| beneficiaries derive benefit from your | | | | Realizing that the information shared is very |
| estate. If you are unable to make a proper | | | | sensitive and private in nature a high level |
| estate plan in time, it may also prove to be | | | | of confidentiality is maintained. |
| very costly in terms of heavy taxes. High | | | | |
| estate taxes and administrative costs can | | | | Once the required data has been obtained, it |
| consume a sizeable part of your estate with | | | | is analyzed and evaluated to prepare a |
| very little left to be passed on to your | | | | written report outlining your current |
| loved ones. This is surely not what you would | | | | financial condition and a proposed asset |
| want to happen to the fruits of a lifetime of | | | | disposition plan in detail. |
| hard labor. Estate taxes can be considerable. | | | | |
| For 2007, the rate of estate taxation is 45%. | | | | The report can consist of alternative |
| | | | techniques and strategies to enable estate |
| Professionals rendering estate-planning | | | | tax savings and administrative costs that are |
| service can help organize an effective plan | | | | in consonance with the stated goals. It takes |
| to let you transfer your assets to your heirs | | | | care of the financial and tax analysis, and |
| with the minimum of hassles. The plan would | | | | suggests alternative estate planning measures |
| avoid needless tax payments and maximize the | | | | to be implemented. This allows you to decide |
| amount that your intended heirs receive | | | | what you are comfortable with and would like |
| cutting down costs and time. There may be | | | | to implement. |
| undeserving heirs you would not like to be | | | | |
| recipients of any part of what you leave | | | | After the direction in which to proceed for |
| behind. A proper plan can help you achieve | | | | implementing the plan is settled, the actual |
| this also. | | | | implementation requires extensive |
| | | | documentation and other action to be taken. |
| Once you furnish the details of your business | | | | In view of the parameters of what an estate |
| interests and other relevant financial | | | | plan covers, the participation of your |
| information, an estate-planning professional | | | | investment advisors, insurance advisors, |
| can work with you to prepare your estate | | | | attorney, and some other people in the |
| plan. These experts have extensive and | | | | implementation process becomes necessary. |
| specialized training focused on estate | | | | Professionals in estate tax planning would |
| planning, tax and financial matters. Broad | | | | schedule meetings with these people and play |
| based experience with a solid financial | | | | an active role to ensure that appropriate |
| background and innovative thinking enables | | | | professionals take all steps necessary to |
| them to protect your legacy and reduce taxes | | | | carry out proper implementation of the plan. |
| through a well-conceived estate tax plan | | | | |
| appropriate to your individual situation. | | | | Since each estate plan is highly customized, |
| | | | quality estate planning services also provide |
| As a preliminary step in the estate-planning | | | | periodical monitoring and review of the |
| process, your financial situation is reviewed | | | | estate plan. In the face of constantly |
| and personal goals with respect to the estate | | | | changing economical and tax regulations that |
| plan are established. Usually detailed | | | | affect your personal situation, appropriate |
| questionnaires along with personal interviews | | | | revisions in the estate plan in line with |
| are used to collect the related data. The | | | | such regulatory changes are accordingly done. |
| information sought relates primarily to the | | | | |