"We have what it takes to take what you have."–Suggested IRS Motto Whether you call it estate planning or legacy planning, transferring wealth from estate to beneficiary is often far from simple. Just dealing with the probate process alone can take months, sometimes years. Many legacy or estate plans will therefore rely on trusts to avoid the probate process altogether. You can fill more specific needs in your plan using different types of trusts. You’ll also want to ensure that when you pass away, you’re maximizing what you can leave for their family. Usually, this means minimize what goes to taxes. A sound legacy planning strategy, built with the help of a financial professional, can ensure that you accomplish this goal. You’ve worked hard to build what you have. So, it’s only natural that you want to establish and nurture a legacy that will last for years or even decades after you’ve gone. Legacy Planning is the key to making sure that everything you work for is passed on according to your wishes. These are difficult decisions, but if you don't make them, a court will. Principles of Preserving Wealth Understanding Your Estate: Critical Elements of an Estate Strategy Establishing an estate strategy is crucial, yet many wait too long to put their wishes in writing. Use this helpful guide to review your estate strategy and start conversations with your loved ones, financial professionals, and legal team. First Name Last Name Email Address "It is a paradoxical truth that tax rates are too high today and tax revenues are too low, and the soundest way to raise the revenues in the long run is to cut the tax rates." John F. Kennedy Test Your Investment Knowledge! How much do you know about investing? Take our quiz and find out instantly. First Name Last Name Email Address Thank you! Oops!