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Estate Planning

An estate plan allows you to direct how and to whom your property will be distributed after your death. If you have no estate plan at all, your property could be distributed according to your state's intestacy laws without regard to family needs or your desires.

Estate planning is ongoing process. For a young single person, an estate plan may consist of simply a Will. A couple just starting out might have Wills and own a modest home and a bank account in their joint names. When children arrive, naming a guardian and arranging to provide for them in the event of unexpected death or incapacity become estate planning concerns. And, once an individual starts to realize his or her financial goals, asset preservation and avoiding taxes become important factors in estate planning.

Are you on track with your estate planning? Use the following ten-point checklist to find out.

Does your Estate Plan:
Include an up to date Will? Yes No
Name a guardian for your minor child? Yes No
Name an executor (or personal representative) and trustee you are confident will carry out your wishes? Yes No
Take into consideration any special medical or educational needs certain family members may have? Yes No
Include provisions for long-term care for you and your spouse and/or other dependents should the need arise? Yes No
Take advantage of the benefits of lifetime gifts? Yes No
Include charitable gifts? Yes No
Provide investment assistance for family members who may need help managing their inheritance? Yes No
Minimize taxes? Yes No
Provide for a smooth and tax-advantaged transfer of your business interest at your retirement or death or if you become disabled? Yes No

Every "No" answer may indicate a gap in your estate planning.

The best way to keep your estate plan up-to-date is to review it on a regular basis. We are happy to help. We can review your plan with you and other professional advisors to determine whether changes are needed. We can also tell you more about estate planning strategies and how you can use them to help ensure your loved ones' future financial security.

For more information, let us know a little about your wealth management needs and a Wealth Advisor will contact you. For additional help, see our Wealth Planning Overview.

 


Investments in securities and insurance products held in trust accounts are not FDIC-insured, not deposits of Regions Bank or its affiliates, not guaranteed by Regions Bank or its affiliates, not insured by any federal government agency, and may go down in value.