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Estate Planning

Retirement Planning

Need A One-Liner Related to Estate Planning

When a person passes away without updated estate planning documents in place, it is possible not all of their wishes will be met and your beneficiaries may not receive everything they are entitled to, or exactly how you would prefer.

You can start to lay the groundwork in your financial plan to consider the legacy you want for your children, your grandchildren or a charity for years to come. This legacy can extend beyond a simple financial inheritance. If properly designed, it can be a part of a rich tapestry supporting the values you instilled in your family. The actions you take today for your financial plan will have an impact long after you are gone.

Estate Planning Facts

In many cases, a simple will can suffice as a way to ensure the desired transfer of assets and guardianship of children. However, Consider the following:

Estate tax laws change periodically as do the individual’s financial situation which can make an estate plan obsolete if it is not reviewed periodically. A good estate planning team can provide the necessary guidance to ensure that your estate plan is current and operable.

A will is subject to probate which means that all assets are distributed under the supervision of the court. Absent a will, the state becomes the executor of the estate and will name guardians and beneficiaries according to its laws.

Assets such as life insurance and qualified retirement plans transfer by contract to named beneficiaries outside of probate.

The afternoon knows what the morning never suspected.

Robert Frost

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Retirement Insight brought to you by the Summit Financial team.

Summit Financial Consulting -

Working With People You Trust.

43409 Schoenherr Road

Sterling Heights, MI 48313

Phone: 586-226-2100
Fax: 586-226-3584

The Fine Print

Investment advisory services are offered through Summit Financial Consulting, LLC, an SEC Registered Investment Advisor Firm. SEC Registration does not imply a certain level of skill or training. Insurance products and services are offered through Summit Financial Consulting, LLC.  Summit Financial Consulting, LLC and its representatives do not render tax, legal, or accounting advice. Summit Financial Consulting, LLC is not affiliated with or endorsed by the Social Security Administration or any government agency.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.