Estate Planning

Estate Planning

Effective estate planning can potentially accomplish the following:

  • Provides financial stability for your surviving spouse.
  • Preserve assets for later generations.
  • Provide care and support for your children or grandchildren, especially minors or those with special needs.
  • Support a favorite charity, college, or cause with a gift of money, securities, or other property.
  • Ensure your assets are distributed in a timely manner with a minimum of legal hassle.
  • Minimize the taxes and expenses that can be incurred when settling an estate.
  • Provide sufficient cash to meet expenses and avoid the forced sale of assets.
  • Make certain your family business can survive after your death.

Estate needs can vary widely based on your personal situation, so your plan must be customized to maximize your savings. Before you undertake your estate planning, think about these questions:

  • How important is it for me to control all of my assets while I’m alive?
  • How much complexity can I deal with?
  • How much risk am I willing to assume by pursuing aggressive strategies in my estate plan?

How you answer these basic questions also affects what is the right plan for you. Berkowitz & Associates has broad expertise in estate planning. We encourage you to talk to us about your specific goals and needs.