Massachusetts Legacy & Estate Planning
Estate and Legacy planning are crucial for everyone, not just for the wealthy. Yet they are often part of the retirement planning process least understood by many consumers and advisors. Many people think simply having a Will is sufficient, but the fact is, you may need more. A Will itself is just one piece of the Estate Planning process. In order to fully protect your loved ones after you pass, you should incorporate all the documents, tasks and appointments to ensure you’ve done everything you can to make the process easier on them when the time comes. Without this step of your plan completed, your estate is subject to the probate process, which can take months or sometimes even years.
Estate and Legacy planning are crucial for everyone, not just for the wealthy. Yet they are often part of the retirement planning process least understood by many consumers and advisors.
Estate and Legacy planning are two distinct planning areas, yet they go hand-in-hand when preparing for the transfer of your assets and your values after your death.
Estate Planning is the larger process that involves setting up a plan that establishes who will eventually receive your assets. It also communicates how you want your affairs to be handled in the event you are unable to handle them on your own for any reason. There are many components to Estate Planning, and while there’s a common misconception that it’s just about your finances, the truth is there’s a lot more to it. It also includes Legacy planning, which is the process of deciding how exactly you’d like your assets and values bequeathed to your loved ones after you die. Whereas Estate Planning typically involves the establishment of important documents like a will or trust, Legacy Planning also involves the task of passing on less tangible items, such as imparting certain values to loved ones or establishing a focus on charitable giving.
At Cutter Financial Group, we begin this process by obtaining a clear understanding of how you want your assets to pass to your desired beneficiaries, including those with special needs or charitable causes. We will then review any wills and trusts you currently have in place to determine if they match our understanding of your wishes. If there are discrepancies between your wishes and your current estate planning documents, or you simply don’t have the appropriate estate planning documents, we will work with your attorney or can recommend one to help you correct these deficiencies.
You’ve worked hard over the years to build your estate. We’ll help you think about the retirement planning process more holistically. By incorporating Estate and Legacy Planning, we give you a greater chance at a lasting legacy so you can continue to support the people you love even after you’ve died.
Request a Legacy & Estate Planning Appointment
Let us get to know your situation, goals and needs – then together, we will help you build a sound legacy plan.