Estate Protection

How to Optimize Your Estate Plan

April 30, 2014

In estate planning, there is definitely a large gap between how much importance one places on ensuring family security and what one does to “actually” ensure that security. In a recent survey, U.S. Trust revealed that most wealthy families have an estate plan in place, but only 39 percent indicated that they feel secure about the comprehensive nature of their plan to distribute their wealth.

Over the past century, wealthy individuals have given more emphasis on goals such as financial security and financial freedom for themselves and their family. They’ve allocated resources for extensive travel after retirement and focused more on quality relationships with family and friends; besides simply leaving a financial inheritance. Moreover, concerns over their heirs’ ability to handle large inheritances have made most people hide the true value of their estate from their children, says the survey. (more…)