Estate & Legacy Planning
In the scramble to save for retirement and to meet regular expenses, many people often overlook the need to plan for what will happen to their hard-earned assets when they die.  A poorly planned estate can cause intense family strain and rivalry in the aftermath of a loved oneís death.

The most common mistake many people make is not having a will.  If you die without a will, a state probate court will decide how your property gets divided up.  It should come as no surprise that these judgments are very often contrary to what the remaining family members feel is reasonable and fair.  Some estimates place the number of people without a basic will to almost 60% of the US population.  Even if you do not have substantial assets, having a will is fundamental to sound estate planning.

In addition to a will, another crucial aspect of estate planning is the administration of a trust.  In certain situations, a trust is the best possible way to ensure that your heirs receive the largest possible share of your estate and avoid the time-consuming and costly process of probate court.  Current estimates are that less than 20% of Americans have created a trust as part of their estate plan.

Under the current US tax code, all but the wealthiest Americans have to worry about estate taxes.  Planning for the care of loved ones after you die is an often overlooked part of estate planning, particularly in the case of older married couples in which women statistically live longer than men. Many husbands fail to discuss financial matters with their spouses creating a difficult situation for the spouse should the husband die first.

Estate planning doesnít have to be difficult, yet people often make it so.  By taking the proper steps now to create a sound estate plan, you can save your loved ones a substantial amount of time, money, and anguish.

From aiding families with the complexities of trust formation and administration, to creating sound investment plans that provide for the care and income needs of loved ones after you are gone,  Gary A. Dossick & Associates. Inc. and our team of estate planning experts have helped numerous individuals and families to set up and administer sound estate and legacy plans.

We invite you to contact us for a free one-hour consultation to see how we can help you address your estate planning needs.