Legacy Planning
At DivorceWell we believe there are 4 pillars of divorce:
Legal, Spiritual, Emotional, Financial
Legacy by DivorceWell™ is our Estate and Business Planning division. We are an experienced office that understands that protecting yourself, your family or your new blended family is of utmost importance. With our personalized and customized care that we give to each client, we want to make sure your needs are protected. For expert advice, please feel free to contact us today for your Free Consultation.
Estate Planning
Estate planning is the process of arranging how your assets will be managed and distributed during your life, especially in the event of your death or incapacitation. It involves making decisions about who will inherit your property, manage your affairs, and ensuring your wishes are carried out regarding your healthcare and finances.
Anticipating Future Needs
Estate planning anticipates and prepares for both your death and the possibility of incapacitation, ensuring your wishes are known and followed.
Asset Management and Distribution
It involves determining how your assets (like property, money, investments, etc.) will be managed and distributed to your chosen beneficiaries.
Minimizing Taxes
A key goal is often to minimize estate taxes, gift taxes, and other taxes that might reduce the value of your estate for your heirs.
Beyond Wills
While a will is a common part of estate planning, it’s not the only element. It can also involve trusts, powers of attorney, and healthcare directives.
Individualized Plans
Estate plans are unique to each individual and family, taking into account their specific circumstances, goals, and assets.
Professional Guidance
Attorneys, financial advisors, and other professionals can provide guidance in creating an effective estate plan.
Will
A legal document that specifies how your assets will be distributed after your death.
Trust
Legal arrangements that allow you to transfer assets to a trustee who manages them for the benefit of your beneficiaries.
Financial Power of Attorney
A document that authorizes someone to manage your finances if you become incapacitated.
Healthcare Directives
Documents that outline your wishes regarding medical treatment if you are unable to make decisions for yourself.
Guardianship Designations
Designating guardians for minor children or dependents with special needs.
Business Planning
A significant portion of businesses fail within their first few years, and not having a business plan significantly increases the likelihood of failure. Approximately 20% of new businesses fail within their first year, and nearly half don’t make it past five years. Studies suggest that businesses without a business plan are at a much higher risk of failure, with some estimates indicating that up to 70% of businesses with a plan survive for five years, while a large percentage of those without a plan fail within the first two.
These statistics highlight the importance of careful planning and preparation when starting a business. A business plan can help entrepreneurs clarify their vision, set realistic goals, and develop strategies for success.
At Legacy by DivorceWell™, it’s our goal to understand your business goals. We know that a goal without a plan is only a dream so why not have an expert in business planning help you make your dreams a reality.