| It has been our experience at
Family Estate Planning, that people lose more money because of
estate planning mistakes than all other financial planning errors
combined.
 Without
professional planning, estate taxes may affect your retirement
savings like a 70% drop in the stock market would affect your
investments.
Estate taxes are a tax on your entire net worth.
This means that when you die, the government could take 50% or
more of your net worth in taxes. When you die, your wealth can
only go three places:
How much of your net worth do you want to go to taxes? How much
do you want to go to your family? Without estate planning, your
children could receive less than 30% of your retirement savings!
If that is ok with you, then you don’t need Family Estate
Planning.
But if you do want to preserve your assets for
your heirs, our team at Family Estate Planning can help you protect
your money from unnecessary taxes. We advise our clients, “Don’t
let the IRS become your richest heir” at the expense of
your loved ones. At Family Estate Planning, we believe that estate
taxes are a voluntary tax. Reducing or even eliminating estate
taxes is legal!
The US Supreme Court stated, “…the
right of a taxpayer to decrease the amount of what otherwise would
be his taxes, or altogether avoid them, by means which the law
permits, cannot be doubted.”
Even the rich and famous are not immune to estate
planning mistakes. As documented in public record, you can see
how a lack of estate planning caused the majority of John D. Rockefeller’s
assets to go to estate taxes. It is obvious from these graphs
that John D. Rockefeller, Jr. learned from what happened to his
father’s assets and decided to do some estate planning.
He was able to reduce the taxation on his own estate by 75% compared
to the taxation on his father’s estate.
You can clearly see that estate planning is important
because it keeps your money, business, and assets (such as a family
farm) in the family, generation after generation.
Estate taxes have been put into law and taken
out of the law six times in our nation’s history; and major
tax law changes are implemented almost every year. That is why
you need the professional team at Family Estate Planning to work
with you to develop your customized estate plan. By helping you
to plan your estate, Family Estate Planning could make more of
a positive impact on your financial legacy than all of your other
financial advisors combined.
At Family Estate Planning, we are committed to
reducing your estate taxes to the minimum permitted by law and
to empowering you to decide how to disperse your retirement assets.
However, your options are more open when you plan your estate
early. Procrastination could cost you over half of your net worth.
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