Description
Without a proper Estate Plan, the value of your estate could decrease significantly upon your death through Federal Estate taxes. That means the IRS, and not your intended heirs or other recipients could end up with the majority of the assets you've earned. While many people make the mistake of believing that the value of their estate is not enough to substantiate a proper plan, consider that an estate can include not only the value of a home but also investments, jewelry, personal belongings, retirement accounts, life insurance policies and other assets.
Working closely with your Legg Mason Financial Advisor, our Wealth Management Professionals can develop and implement a custom Estate Plan that maximizes your tax advantages while providing sufficient liquidity to cover estate taxes and settlement costs for your heirs. Even if you already have an estate plan, several events can trigger the need for a review or additional estate planning with your Financial Advisor including: the purchase or sale of a house and/or family business, marriage, divorce, the death of a spouse or beneficiary, the birth of a child or grandchild, a significant change in your net worth (stock option vesting or inheritance), changes in financial objectives (such as early retirement) and changes in the tax laws.
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Estate Planning