Estate Planning Services

Home » Financial Planning » Estate Planning Services

World-class Estate Planning

Effective estate planning involves carefully planning ahead to ensure the assets you have accumulated during your lifetime pass to your heirs in a manner you intended. This should be done well in advance of the time it is most needed.

Estate Planning Involves

  • Understanding current federal and state laws and their impact on a client’s ability to transfer assets.
  • Coordination with a business owner client’s goals as they relate to his or her business succession needs.
  • Understanding children and grandchildren’s ability to manage/handle an inheritance, and putting mechanisms in place to set them up for success.
  • Coordination of many different client advisors including the attorney, financial planner, CPA, and insurance provider.

What We Do At Pallas

  1. Identify and memorialize clients objectives regarding transfer of their wealth during lifetime and at death
  2. Provide impactful strategies to maximize clients abilities to accomplish their objective
  3. Develop financial models reflecting recommended strategies to help client in the decision making process
  4. Regularly monitor clients progress with regard to their objectives and recommend mid course correction adjustments based on changes of law, client objectives or other issues as needed.

Estate planning is essential for making sure that your assets are protected and that you leave something behind for your heirs after you pass away, as well as ensuring that your final wishes are followed. This process allows you to prepare not only for death, but for any situation when you become incapacitated and unable to make decisions for yourself. Pallas Capital Advisors are here to provide safe, stable, and proper estate planning services to each and every one of our clients.

Estate-Planning-ServicesWhy Estate Planning Is Important

Estate planning is one of the most vital aspects of your financial planning, and it’s never too soon to get started. There are several reasons why this step is so vital. First, it protects any beneficiaries you wish to note, regardless of the amount of assets you may have. Second, it protects your children and ensures not only that they are financially cared for, but that you can assign someone to serve as their guardian, to raise them and care for their physical and emotional needs.

It can also protect your assets from the IRS, who is certainly going to come knocking as your heirs struggle to close your estate. Finally, a proper estate plan allows you to lay things out in a clear, concise manner that is not questioned. This can avoid complicated, acrimonious probate and court proceedings, which can eliminate in-fighting among your family.

Estate Planning is More than a Will

Estate planning is far more than just having a will, though this legal document is a vital part of your final planning. A will enables you to outline your instructions and wishes to determine how your property and assets are divided, and how your children will be cared for, including custody issues. You’ll name an executor—someone you trust implicitly—to administer your estate and oversee its distribution to ensure that all of your wishes are met.

A will is just one small part of your estate plan, however. We will also need to account for issues such as:

Limiting Estate Taxes and Trust Accounts

Avoiding Probate where Possible

Medical Needs and Final Directives

Insurance, IRAs, 401(k) Accounts, and Other Investments

Funeral and Burial Arrangements

Any Charitable Donations and Annual Gifting You Wish to Establish

Setting Up a Power of Attorney

Asset Management and Protection

It’s Never Too Early

Even if you don’t think you have much in the way of assets, a proper estate plan is important. One of the most common mistakes people make is thinking they’re too young to worry about an estate plan. In truth, unforeseen tragedy can strike anyone at any time, and it’s never too early to have a plan in order. Even if your situation changes as you get older, you can easily modify your existing plan to account for new assets, investments, and circumstances.

Reach out to the team at Pallas Capital Advisors to start developing your estate plan today, regardless of what stage of life you’re in. We’ll develop a thorough plan to protect your assets and heirs and ensure that your final wishes are covered.

Subscribe to Our Newsletter