Estate Planning

The Goals of Estate Planning

While an estate plan can’t pass on your memories and experiences, it can help you pass on your assets in a way that reflects your values, dreams and the full life you’ve lived. Estate planning can also help you take care of your family when you’re no longer able to do so yourself.

Some common basic goals of estate planning include:

  • Helping protect your assets against the high costs of long-term care
  • Managing your financial and legal affairs if you become disabled
  • Expressing your wishes with regards to medical care, and designating an individual to make medical decisions for you when you cannot
  • Providing for your family if you become disabled or die
  • Minimizing delays and frustrations of estate settlement
  • Helping your family avoid unnecessary estate tax liability
  • Benefiting a charity
  • Controlling the distribution of your assets

Estate Planning With Life & Long-Term Care Insurance

You may already be aware of the importance of life insurance when you’re planning how to take care of your family financially when you’re gone. But what about now? What happens if you become ill or disabled and need long-term health care? These expenses can rapidly deplete your retirement savings and all your other assets as well.

Strategies for Additional Estate Planning Goals

You should also consider strategies for helping reduce estate taxes and transferring wealth to your heirs. In addition, using family trusts in your estate plan may help you meet many of the estate planning goals mentioned above.

  • Estate taxes
  • Gifting and wealth transfer
  • Trusts

How Rhodes Securities Can Help With Estate Planning

Your financial advisor can help you with the estate investment planning process and work closely with you and your tax and legal advisors to implement the estate planning strategies that make sense for your particular situation. Contact your financial advisor to learn more.

Trust services available through banking and trust affiliates in addition to non-affiliated companies of Wells Fargo Advisors.Rhodes Securities and its affiliates do not provide legal or tax advice. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies. Wells Fargo Advisors, LLC is a separate non-bank affiliate of Wells Fargo & Company.