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Important Things You Need to Know When Estate Planning

by AOG Wealth Management

An estate plan ensures the orderly administration and disposition of property after you die. It’s important because you need to think about what will happen to your assets and who will receive your assets after you pass away. Fortunately, AOG Wealth Management is a leading estate planning expert in our local area. We can help make sure you understand the process and position your estate plan so that your assets are distributed as you wish when the time comes. Today, we’ll discuss some important things you need to know about estate planning:

Estate Planning

  • A Living Trust Can Avoid Probate – This is a property interest that you create that allows for the easy transfer of assets. There will be costs if you take this approach, but it will be much less than going through probate, which involves fees, taxes, and legal costs. Note, however, that if you want to avoid probate, all of your assets must be titled in your name, including bank accounts.
  • You Need to Avoid Disinheriting Your Children – As a financial planning expert, we highly recommend being careful when estate planning. If you have children from a previous marriage and you intend to pass your assets to them, you can use a living trust instead of a beneficiary designation. This avoids a situation where the stepfather or stepmother can end up in full control of your assets.

In addition to estate planning, we provide financial planning, wealth management, asset management, and tax planning services. AOG Wealth Management manages our client’s wealth with integrity, accountability, and accuracy. Our team of professionals can help communities in McLean, Washington, DC, and the surrounding areas. Call us at (866) 993-0203 to learn more about estate planning. You can also schedule a complimentary consultation.

The information contained in this material is believed to be reliable, but accuracy and completeness cannot be guaranteed; it is not intended to be used as the sole basis for financial decisions. If you are unable to access any of the news articles and sources through the links provided in this text, please contact us to request a copy of the desired reference.

Category: Wealth Management