Wealth Management Rochester NY
Wealth Design Services Inc.
Tax Planning, Advising Medical Professionals, Women's Financial Planning Issues, Charitable Giving - Trusts & Foundations, Ongoing Investment Management, Retirement Planning & Distribution Rules
NAPFA Registered Financial Advisor, CPA/PFS, JD
Fey Asset Management LTD
Ongoing Investment Management, Planning Issues for Business Owners, Advising Medical Professionals, Retirement Planning & Distribution Rules
NAPFA Registered Financial Advisor, CFA, CFP®, MBA, PhD
Apropos Financial Planning
Retirement Planning & Distribution Rules, College/Education Planning, Middle Income Client Needs, Planning Issues for Unmarried & Same-Sex Couples, Cash Flow/Budgets/Credit Issues, Investment Advice without Ongoing Management
NAPFA Registered Financial Advisor, BA, BS, CFP®
Howe and Rusling, Inc.
Areas of Specialization
Investment Management, Investment Planning, Retirement Income Management, Retirement Planning, Securities, Sudden Wealth Management, Wealth Management
Average Net Worth: $500,001 - $1,000,000
Average Income: $100,001 - $250,000
Profession: Service Professionals
First Niagara Bank
Rochester Financial Services
Ongoing Investment Management, Tax Planning, Estate & Generational Planning Issues, Retirement Planning & Distribution Rules, College/Education Planning, High Net Worth Client Needs
NAPFA Registered Financial Advisor, CFP®, PhD
Landmark Financial Advisory Services, LLC
College/Education Planning, Investment Advice without Ongoing Management, Retirement Planning & Distribution Rules, Middle Income Client Needs, Hourly Financial Planning Services, Insurance Related Issues, including Annuities
NAPFA Registered Financial Advisor, CFP®, MBA
US Trust, Bank of America Private Wealth Management
High Falls Advisors, LLC
By: Jonas Zamora
Jonas Zamora is a Certified Financial PlannerTM professional. You may contact him at firstname.lastname@example.org
Benefits of Estate Planning
Have you ever been advised that you should have an estate plan? You hear the advice and, like most folks, don’t have a clear idea of why you should have one. I read an article by financial planner Elaine Floyd, which outlines the reasons why you should have an estate plan.
Let’s start with the benefits. An estate plan allows you to:
1. Direct the distribution of your wealth at death. An estate plan allows you to name the people, or charities, that will receive your assets. Otherwise, the courts will decide for you based on the laws of succession in your state.
2. Save on estate taxes. The estate tax still exists at least until 2009. In 2010 it will be repealed but may come back in 2011. This year, assets that total up to $2 million are exempt from federal estate taxes. The top tax rate on assets above that amount is 45%. Keep in mind that state inheritance tax has not been abolished either.
3. Save money on probate fees and keep your privacy. Probate fees can run up to about 10% of your estate’s value. Keep in mind that probate is time consuming and a matter of public record.
4. Protects assets while you are alive. Estate planning strategies can help protect you in case of lawsuits and divorce.
5. Prepare for incapacity. What happens if you are unable to handle making the payments for the care you receive while incapacitated? Who will manage your care and finances? An estate plan can help assure your well being if you become unable to make your own decisions....
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