Estate Planning creates a master plan for the management of your property during life and the distribution of that property at death. Common objectives addressed in the process include transfer of wealth, minimization of tax, asset protection, and charitable giving. At JP Wealth Advisors, our process does not end with estate planning but coordinates your estate plan with your overall financial picture.

The Transfer of Wealth involves the smooth transition and distribution of wealth according to your wishes. With proper planning, you can decide to whom, how, and when assets will be distributed as well as who will manage the estate.

Within estate planning, many look to Minimize Taxation without interfering with other financial goals. If you give away wealth during or at death, you may incur federal and possibly state taxes. By understanding taxes and the various strategies utilized to minimize them, you can help to protect your assets from excessive depletion.

An Asset Protection Plan can help identify potential creditor exposure and provide tools and strategies to reduce said exposure. Protection planning commonly deals with ownership disputes/business dissolutions, liability insurance, and prenuptial agreements/divorce. 

Charitable Giving is motivated by both personal preferences and tax incentives. Charitable giving is encouraged through tax reduction legislation.  While planning, you are able to select the gifted property as well as the structure/timing that will target your overall needs.

This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Investors should consult with a tax or legal professional regarding their individual situations.

Grandparents welcoming grandchildren