Estate Planning

Estate planning involves much more than allocating your will. It’s about maximizing your goals while minimizing tax risks.

Because we stay abreast of tax law changes that can impact rights of survivorship, HHM CPAs gives clients thorough trust preparation. HHM has extensive experience in assisting executives and trustees with this vital, detailed process and can help you establish a will that you can be confident in today.

What is Estate Planning?

Estate Planning Involves:

  • Analysis of ownership of assets
  • Accumulation of wealth
  • Conservation of wealth
  • Planning for family’s financial security
  • Funding of educational cost
  • Planning for retirement needs
  • Minimization of taxes wherever possible
  • Orderly wealth transfer to family

Each of us should plan for the future. Estate Planning is lifetime planning as well as planning for death transfers. A well-designed plan achieves great flexibility, keeping your goals within reach in numerous situations. HHM can assist you in determining your objectives and developing your estate plan. Once established, an estate plan does need to be updated periodically, and we can also help with that.

What Things Do I Need to Consider?

  • Identify ownership of your assets
  • Life insurance
  • How much should I own?
  • Who should be the owner?
  • Who should be the beneficiary?
  • Retirement Plan benefits & beneficiaries
  • Selection of executor and trustees
  • If minor children, selection of guardians
  • Ability of beneficiaries to manage assets
  • Who do you want to receive your property?

HHM can assist you in accumulating the information necessary to create your estate plan. Additionally, HHM can make in-depth financial projections and estate tax calculations.

Remember planning is a continual process. Personal changes, substantial change in net worth, marriage, divorce, the birth of a child, or change in state of residency could make your present plan unworkable. Estate and income tax law changes may also render your present plan ineffective.

Why Should HHM Assist You?

Planning for your survivors should begin as soon as you have acquired assets or when you become legally responsible for minor children. We can work with your present attorney or help you select an experienced attorney to draw up your will and other estate planning documents, such as durable powers of attorney, living wills, and any necessary trust documents. With effective planning, you can lessen the tax burden on your estate and be confident that your beneficiaries will receive what the law allows.

HHM tax professionals have worked on hundreds of estate planning cases – from initial planning meeting through final estate distribution. HHM business valuation specialists have valued all types of closely-held business interests and can assist in that aspect of the planning process. As your CPA, we work with your insurance specialist and your attorney as a team to formulate an estate plan that is right for you.

Contact any of our Estate Planning Specialists to see how we may be able to help you to plan for you and your loved ones’ futures.

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