No one likes to think about the end of life. But your loved ones will greatly benefit if you take some time to think about estate planning and how you can meet their future needs when you are no longer here.

What To Consider

The importance of estate planning

When a loved one dies, families are left with grief. And too many families are also left with financial challenges. Estate planning allows you to designate how to distribute your assets after your death. Successful estate planning transfers your assets to your loved ones quickly while minimizing as much as possible their tax burden. The process of estate planning includes making an inventory of your assets, hiring an attorney to have a will written and/or establish a trust.

Wise choices now could help your loved ones have a more secure future

Another aspect of your estate planning is working with a Financial Advisor to help you develop a comprehensive plan that takes all financial and tax conditions into consideration. Meeting with a Financial Advisor will also help you determine which financial and insurance products might best meet your needs today and have potential benefits in the future for your beneficiaries. Life insurance is usually a critical component in estate planning. The proceeds can help cover estate taxes, provide an income for a surviving spouse, pay your funeral expenses, and establish college trusts for grandchildren and pay any remaining debts.

Annuities can also be a wonderful financial tool to meet your retirement needs and transfer wealth from one generation to the next. Many annuities offer the potential for tax-deferred growth, an income stream and the ability to avoid probate.

A Harborstone Financial Advisor can review with you which life insurance policies and annuities may be right for you and your family.

How Harborstone can help

We all want to leave our loved ones financially secure. You need a partner you can trust when selecting the right financial and insurance products to ensure your family's financial future. A Harborstone Financial Advisor can help you review your current portfolio and insurance coverage and suggest options that will provide you with peace of mind. To schedule a complimentary appointment with a Harborstone Financial Advisor, call (253) 589-8396 today.