Secure Financial Services, Inc.


Estate Planning

Estate Planning is best explained as preservation and transfer of wealth, the “who gets what and how does your financial obligations and final expenses get paid.” You can maximize the estate you pass on by providing life insurance to satisfy estate taxes and administrative expenses and provide some income security for your heirs. Anyone who owns a home or has a potential net worth of $100,000 or more should start working towards developing an Estate Plan.

What Makes Up an Estate Plan?

This depends on your individual situation; some plans may include more that others. We will work closely with your legal advisor to customize the plan to your situation.

Major Parts Include:

  • A will
  • Insurance (life , health, and disability)
  • Power of Attorney
  • Living Trust

Estate Planning Checklist

Draw your will. A will defines what happens to what you have left behind and lets your wishes be known. You need to put your desires into writing, such as who will inherit your property. Over time your goals and circumstances can change, so it is important to periodically review you “estate plan” and your will. Make sure you have a will with a named executor or trustee.

Set up Trusts. Ask your attorney if one or more trusts is appropriate for you

Talk to all Interested Parties. Discuss topics such as executorship and guardianship and gain agreement for those people who plan to fulfill that role

Purchase Appropriate Life Insurance. Life insurance can provide cash at a time of death that may facilitate the passing of your estate and payment of taxes.

Consider a living will. This is a medical order that names someone in charge who has your health care alternate in case you become injured. It ensures that your wishes get carried out when you don’t have the ability to speak for yourself.

Representatives of LPL Financial and it's advisors do not provide tax or legal advice. Please consult your tax consultant or attorney for your specific advice.