Estate Planning Strategies

Wilson Peak Wealth Management helps you plan a life well lived and prepare a legacy well left for the next generation. Consider your assets: bank accounts, investment accounts, 401(k) or 403(b) plan accounts, house, cars, jewelry, and heirlooms. This is your estate and your estate plan can define what you would like to happen to these assets in the event you die.

Five Essential Documents

These five documents are often essential to an estate plan:

Will - Instructions for distributing your assets when you die. You will name a personal representative (executor) to pay final expenses and taxes and distribute remaining assets. Name a guardian to raise your minor children if both parents die.

Durable power of attorney – You give a trusted individual management power over your assets if you can’t manage them yourself. This document is effective only while you’re alive.

Health care power of attorney - You choose someone to make medical decisions on your behalf if something were to happen and you can’t make them yourself.

Living will – Shares your intentions about life-sustaining medical measures if you are terminally ill. No one is given authority to speak for you.

Revocable living trust - You can provide for continued management of your financial matters while you are alive, after your death, and even for generations after.

Turn to a team of professionals

Making the decisions involved with estate planning may seem overwhelming. It doesn’t have to be. You can start by organizing your important documents.

Turn to a team of trusted professionals, including your financial advisor, an estate planning attorney, and your accountant. They know the questions to ask and can help you avoid potential pitfalls.

If you currently don’t have relationships with an attorney and an accountant, we can make some recommendations. We can also discuss our role in the planning process and how you can get started.

Next steps

Make an appointment with us to talk about your estate planning goals.

Start gathering your financial documents.

Check the beneficiary designations on your financial and investment accounts.

Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors.

Wells Fargo Advisors and its affiliate do not provide tax or legal advice. Please consult with your tax and/or legal advisors before taking any action that may have tax and/or legal consequences.
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Contact Us

Please contact us with any questions or to schedule a meeting to discuss your financial future. Or reach out directly by phone (201.730.1900) or email ([email protected])