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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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