Estate Planning
Hurley & Associates has worked with numerous families and businesses to maximize estate assets while minimizing the associated costs and taxes. Just as with the other areas of planning, it is very important that ongoing monitoring and modifications are made as circumstances and tax laws change in future years. The process of estate planning is very complex and is inter-related to the other areas of your financial planning process. We are ready to work with your estate planning team to meet your long term goals.
What is Estate Planning?
Estate planning is the arranging for the transfer of your property to your heirs and to other beneficiaries, in a way that will, as much as possible, achieve your objectives and minimize the associated costs and taxes.
Like the other areas of financial planning, estate planning is individualized and goal-oriented. Your goals will probably include some or all of the following:
• Providing adequate financial security to your dependents after your death
• Providing enough liquid assets for your estate to meet its obligations
• Transferring the maximum possible percentage of your assets
• Planning and controlling the desired distribution of assets, both during lifetime and at death
• Minimizing taxes and estate settlement costs
In order for you to establish and achieve these goals, the process will consist of several steps:
1. Accumulating data concerning assets, family needs and desires
2. Identifying special needs, concerns or problem areas
3. Identifying and calculating estate transfer costs
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