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Advanced Estate Planning: Why You Need It

Aug 4th 2014 at 3:15 AM

More often than not, we fall prey to the misconception that advanced estate planning is only for the rich and famous, but this is not necessarily true. If you have substantial wealth and business assets, then perhaps it is time you get in touch with a certified estate planner. While the traditional estate planning involves the creation of a will in the event of death or disability, advanced estate planning takes it a step further. Let’s see how:

Advanced Estate Planning: What It Involves

Before we launch into the “when” and “why”, let’s see what factors you take into consideration when estate planning goes beyond the traditional:

· Estate Tax Planning

· Asset Protection Plan

· Business Succession Planning

· Planning for Different kinds of Beneficiaries- such as those with special needs.

· Developing a Family/Charitable Legacy

After looking at how all-encompassing Advanced Estate Planning is, the question becomes, how much good will it do for you?

Why You Need It

It Reduces Transferrable Estate Taxes

If you have large amount of estate and assets to pass on, chances are, you may be taxed heavily. How do you avoid that? With advanced estate planning, your estate planner will develop a strategy whereby you could gift highly appreciated stocks into a charity fund or trust. This way, the gifted asset is no longer accounted for in your taxable estates because you don’t own it anymore.

Legacy Planning

You can also use advanced estate planning to create an ongoing legacy of your family for generations. The laws regarding this vary from state to state, but numerous states do allow trusts to proceed for hundreds of years.

Keeps Your Assets Secure

If you’ve accumulated substantial wealth, you are right to be concerned about it. Asset protection planning keeps your assets secure from lawsuits or claims. Through advanced estate planning, you could create trusts like Spousal Lifetime Access to minimize the risks of a charging order ultimately destroying assets. Many other options are available to make certain your assets are safe.

Set Your Advanced Estate Plan Into Motion Now!

Kollar Wealth Advisors is a company that specializes in financial advisory and asset protection services. In addition to that, they offer other services ranging from retirement planning, portfolio management, investment advisory services, estate planning, wealth transfers, etc. They come with over two decades of experience and a network of highly trained professionals.

For Estate planning services in Mount Prospect, visit Kollar Wealth Advisors and take advantage of the free Second Opinion Analysis.



707 Skokie Boulevard

Suite 600

Northbrook, IL 60062

Phone Number:

(847) 291-4300


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