What Is an Estate Plan Review?
The estate planning process assists you in completing an estate plan that facilitates the tax-wise transition of your assets to the people and organizations you care about after you pass away. The CentraCare Foundation offers a free estate planning process that focuses on clarifying family values and objectives — resulting in legacy fulfillment.
The process provides recommendations that match your goals and objectives, and shows you how to:
- Direct assets in the most appropriate way to your heirs.
- Reduce or eliminate estate and other transfer taxes.
- Give a gift to your charities of choice, as desired.
What Are the Benefits?
The estate planning services are offered free and without obligation to give anything to charity. The planning representative does not sell products or draft documents. All information is kept strictly confidential and nothing is disclosed without your permission.
Reviewing your existing estate plan helps you understand what you have in place and anything that may need updating. With proper planning, taxes on hard-earned estates can be significantly reduced or even eliminated. You will learn how to use your assets in a way that will provide lasting happiness for yourself, your family and your community.
What Is the Process?
- Discover and articulate values. Identify and clarify your values and objectives surrounding the legacy you hope to leave.
- Create your statement of values and objectives. You will be provided a statement of values and objectives that helps in creating a plan that will distribute assets efficiently and effectively.
- Review your net worth statement. After your objectives are clarified, the planning representative reviews your assets and structures a detailed plan.
- Explain each planning tool. The technical aspects of the plan will be explained as well as why each tool is recommended and the options you have to fulfill your desires.
- Refine the plan. The plan is refined based on your observations and input as well as that of your professional advisors.
- Implement the plan. Work with your professional advisors to coordinate and complete the plan.
Who Will I Meet With?
CentraCare Foundation partners with Thompson & Associates to provide our benefactors and friends with a free estate planning service as a “thank you” for their loyal support. Thompson & Associates is a nationally recognized charitable estate planning firm.
How Will This Process Complement the Work Done with an Estate Planning Attorney, Accountant or Advisor?
This is a planning process that is driven by your values. Once you have decided on a plan that meets your needs, your professional advisors (attorney, accountant, investment advisor and life insurance agent) draft and update your legal documents, provide investment advice and manage your assets. The planning representative seeks to work in partnership with your advisors on your behalf.
