Estate planning can be a very uncomfortable topic of discussion for some, yet it is an absolute necessity for every Fort Mill & Rock Hill resident. If you have avoided estate planning because it is an emotional subject to discuss, it is time to address it with the assistance of our financial experts. Proper estate planning will leave your loved ones on solid financial footing when you are no longer around to care for them and will ensure your estate’s tax burden is minimized.
If you have been avoiding the idea of estate planning or have an estate plan/trust in place but are unsure what it means, we can help. If you developed a will when your kids were young, it is time to take action now that they are grown. Our Fort Mill & Rock Hill estate planning experts can help you establish a comprehensive financial plan that leaves your family in excellent financial shape regardless of what happens to you.
Just about everyone living in Fort Mill & Rock Hill will benefit from discussing estate planning with an industry expert. Certain estate planning decisions are incredibly complicated, while others are fairly straightforward. Though we do not directly provide legal advice, we can formulate a plan that helps set your family up for as comfortable a life as possible, and then point you in the direction of one of our many partners to execute that plan.
Estate planning involves selecting people for roles like executor, guardians for kids, beneficiaries, and so on. Such roles must be established regardless of whether you have multiple properties, millions of dollars in investments, or if you have only a couple thousand dollars in savings. TZG Financial will help any resident of Fort Mill & Rock Hill with estate planning services.
Upon death, assets will be allocated exactly as decided during your estate planning meetings with our financial experts. Name beneficiaries on your retirement plans, health savings accounts, and life insurance will receive exactly what you specify. If the asset in question is owned by more than one person, it will be distributed to the surviving owners who remain.
Alternatively, items not distributed according to ownership or beneficiary must be allocated according to the language of the will, trust, or state law. Even if you are married, you still need a will. Though your spouse would inherit your assets if you did not have a will, there is always the potential the two of you could perish together. This is precisely why every Fort Mill & Rock Hill resident should partner with our team for comprehensive estate planning services.
Estate planning requires ongoing attention. This is not a task to be done at one point in time, signed, sealed, and eventually revisited upon death. Rather, estate planning changes as your life take shape. Life events will affect your plan. If you get married, have kids, buy a house, change jobs or retire, become a grandparent, or have any other major life event, it will impact your estate planning needs.
As an example, those who have grandchildren must consider if they would like to provide them with direct cash, property, or another asset. Furthermore, the age at which an inheritance is received must be specified during the estate planning process. These are just a couple of examples of how estate planning can change as life events unfold.
Are you concerned about your or your family’s financial future? At TZG Financial, our Fort Mill & Rock Hill estate planning professionals will ensure your loved ones receive the assets you set aside for them. Our estate planning experts stay current on the latest changes in law and keep you informed at all times.
You can reach us at 704.560.1573.