Estate planning is something that most parents want to avoid. But it doesn’t have to be.
Understanding how to make the most of your estate for your children can actually be interesting, and even fun. Taking a few simple steps now will save your children thousands of dollars later that they’d otherwise spend on estate taxes and lawyer’s fees. Wouldn’t you rather that they had that money?
Both the Wills and Living Trusts that FamilyWorks drafts create tax-saving trusts that will allow you to pass up to $2 million tax-free (as of 2006-2008) to your children and create a property management system to manage your children’s money until they’re well into adulthood and able to manage it on their own.