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The term estate planning encompasses the accumulation, conservation and distribution of an estate. The overall purpose of the estate planning process is to develop an estate plan that will enhance and maintain financial security. Estate planning may lead to increases in a client’s estate as well as the conservation of existing assets. Proper estate planning should facilitate the intended and orderly disposition of property at death.
First, we must collect data so that your existing estate plan must be evaluated for potential impairments. After that, we work with your attorney and design an estate plan that is approved by the you. After you review the estate plan, it must be implemented. This stage includes the execution of any necessary legal documents and transfers for arrangements of property. Last, it is important that there periodic reviews of the estate plan, particularly at times of change in life or tax laws.
LPL Financial and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.