Estate Planning & Trusts
The Goals of Estate Planning
While an estate plan can't pass on your memories and experiences, it can help you pass on your assets in a way that reflects your values, dreams and the full life you've lived. Estate planning can also help you take care of your family when you're no longer able to do so yourself.Some common goals of estate planning include:
- Helping protect your assets against the high costs of long-term care
- Managing your financial and legal affairs if you become disabled
- Expressing your wishes with regards to medical care, and designating an individual to make medical decisions for you when you cannot
- Providing for your family if you become disabled or die
- Minimizing delays and frustrations of estate settlement
- Helping your family avoid unnecessary estate tax liability
- Benefiting a charity
- Controlling the distribution of your assets
Estate Planning With Life & Long-Term Care Insurance
You may already be aware of the importance of life insurance when you're planning how to take care of your family financially when you're gone. But what about now? What happens if you become ill or disabled and need long-term health care? These expenses can rapidly deplete your retirement savings and all your other assets as well.
A solid estate plan takes these possibilities into consideration. Learn more about life insurance and the importance of long-term care insurance.
Strategies for Additional Estate Planning Goals
You should also consider strategies for helping reduce estate taxes and transferring wealth to your heirs. In addition, using trusts in your estate plan may help you meet many of the estate planning goals mentioned above.
How Wachovia Securities Can Help With Estate Planning
A Wachovia Securities Financial Advisor can help you with the estate planning process and work closely with you and your tax and legal advisors to implement the estate planning strategies that make sense for your particular situation. Contact a Financial Advisor to learn more.
Trust services are offered through Wachovia Bank, N.A., a national banking association and subsidiary of Wachovia Corporation, or Delaware Trust Company, N.A., a subsidiary of Wachovia Bank. Trusts that have their situs in and are governed by the law of Delaware use Delaware Trust Company as the trustee. Wachovia Trust is a brand name for the trust services offered by Wachovia. Wachovia Trust does not provide legal or tax advice. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
Insurance products are offered through insurance agency affiliates of Wachovia Corporation, including Wachovia Insurance Services, Inc., and are underwritten by unaffiliated insurance companies.