Estate Planning
People often ask "what is Estate Planning?"
It is simply preparing for the management and distribution of a persons assets at their death. Estate Planning
involves weighing various personal and financial decisions and creating legal arrangements to carry them out. It is
generally done through the use of Wills, Trusts, insurance policies, beneficiary designations, and other arrangements
like that.
The goal is generally to balance the person's wishes for distribution and control against the tax consequences of
those actions. Michael's income tax professor in law school used to say if you want more control, you'll have more
taxes, and if you want less taxes, you have to give up more control. (Giving up control is to your loved ones through
gifting and the use of trusts.)
Estate Planning also includes arranging to make sure that someone else can manage your property, make health care
decisions for you, and raise your children in the event of death of incapacity.
©2007-2012 Yardley Estate Planning, LLC. All rights reserved.
People often ask "what is Estate Planning?"
It is simply preparing for the management and distribution of a persons assets at their death. Estate Planning
involves weighing various personal and financial decisions and creating legal arrangements to carry them out. It is
generally done through the use of Wills, Trusts, insurance policies, beneficiary designations, and other arrangements
like that.
The goal is generally to balance the person's wishes for distribution and control against the tax consequences of
those actions. Michael's income tax professor in law school used to say if you want more control, you'll have more
taxes, and if you want less taxes, you have to give up more control. (Giving up control is to your loved ones through
gifting and the use of trusts.)
Estate Planning also includes arranging to make sure that someone else can manage your property, make health care
decisions for you, and raise your children in the event of death of incapacity.
©2007-2012 Yardley Estate Planning, LLC. All rights reserved.
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Michael J. Garry, CFP®, JD/MBA, owner of Yardley Estate Planning, LLC, is an
Estate Planning lawyer licensed in Pennsylvania and New Jersey whose practice
is based in Newtown, PA.
Estate Planning lawyer licensed in Pennsylvania and New Jersey whose practice
is based in Newtown, PA.
| Address: 41 University Drive Suite 400, Newtown, PA 18940 Phone: 267-573-1019 Toll free: 877-251-4393 Fax: 267-604-9164 mgarry@yardleyestate.net |