Critical questions of estate planning

The way in which you leave your estate speaks with as much volume as what you leave. A wisely planned estate passes on values — not just assets. Our estate planning services aim to help people understand — and put into practice — this mission-critical distinction. 

As Ron Blue, president of Kingdom Advisors, says, it is important to build spiritual and social capital into children so they are well prepared to handle financial capital. To build such wisdom into your family, ask yourself:

  • Am I displaying traits I want my heirs do develop?
  • Have I modeled being a producer instead of merely a consumer?
  • Have I demonstrated a spending plan with giving and saving built in?
  • Would my children and other beneficiaries learn to manage assets better if I were to pass along some of them while I’m still living and can counsel them in their use?
  • Would a family conference be helpful for me to field questions about my allocations and to maintain family harmony?

Mr. Blue also recommends we ask ourselves these questions when planning our estate:

  • How much would I like to leave to my children, and how much would I like to leave to charity?
  • Should I give equally to each child?
  • When and how should I give?
  • Through what distribution or deferred distribution should I give?
  • Which techniques should I use to give?
  • Should I have family conferences to explain my wishes?

The Lighthouse Financial team would be honored to discuss the important responsibility of estate planning with you, and we invite you to contact us

 

All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

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