Estate Planning

 
Everyone has different ideas on how to use and preserve wealth. But there’s one thing we all have in common: we want to choose what to do with our wealth, whether it’s to pass it on to our loved ones or leave it as a charitable legacy.
 
Without proper planning, your state can decide how your assets are distributed with the U.S. government becoming your largest beneficiary. Just a little foresight can help ensure your estate can reach those you choose, without unnecessary erosion by federal, state and gift taxes. Barker Financial’s wills and estate planning can:

• Give you the big picture of how to seamlessly bring all elements together in this ever-changing climate for estate taxes and gift taxes.
• Minimize the portion of your wealth that goes to the government and maximize the amount that goes to your chosen beneficiaries.
• Evaluate deferred gift annuities, business continuity plans, irrevocable life insurance trusts, QPRTs/GRATs, charitable trusts and more.

Consider this: Joe Kennedy had an estate worth more than $600mm, which would typically equate to about $300 million in estate tax liability. However, his heirs paid less than $200,000 because he set up an estate plan. It pays to talk now!