Three Aspects of a Quality Estate Plan

International Assets Advisory is a full-service money management and brokerage firm serving thousands of clients worldwide. International Assets Advisory offers comprehensive estate planning services, designed to help clients establish their legacies for generations to come. Here are three features no estate plan should be without.

Designated beneficiaries - Although it may seem obvious, an estate plan must include a detailed description of who will inherit your assets. Because certain assets may be subject to governing agreements, it may be necessary to consult with financial institutions that hold these assets.

Minimize taxes - Without proper planning, your estate may be subject to large estate and income taxes before it can be distributed to your beneficiaries. To minimize taxes, you may want to consider leaving taxable assets to charities and tax-free assets such as retirement accounts to beneficiaries. 

A team-based approach - Estate planning is a complicated process that can benefit from the advice of more than one professional. Estate planning attorneys can help create trusts and wills, accountants can help navigate estate tax issues, while financial consultants can set up investment portfolios or make recommendations for your assets.

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