Estate Planning: Who Will Inherit Your Assets?

Estate planning is the process of deciding how to best transfer your assets, during your lifetime as well as at death. Such planning is critical; without it you could lose a sizable portion of your estate to taxes. While avoiding unnecessary taxation is an obvious motive, perhaps a greater reason for estate planning lies in its ability to transfer your values from one generation to the next. This is your opportunity to define what wealth means to you: What do you believe in? How would you like to impact society? Who are the people and organizations you care about most?

It Could Happen to You
Anyone who dies with an estate of less than $2 million (2006 exempt amount) avoids federal estate tax, assuming they made no taxable lifetime gifts. This amount increases to $3.5 million in the year 2009.

While you may think that amassing a $2 million estate remains unlikely, you may be surprised at the power of your assets. Many people hold highly appreciated assets, ripe for the benefits of estate planning. While itís never too early for you to begin estate planning, some day it could very well be too late.

Please contact Mary Ludwig, Development Director at 712-732-5127, for more information.

The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.

Copyright © The Stelter Company, All Right Reserved.

Essentials

Ways to Give

What to Give

Reading Room

Glossary of Terms

Q&A

Goals & Gifts

Bequest Language