The federal government doesn’t impose an inheritance tax and North and South Carolina have no estate or inheritance taxes, so why bother with estate conservation? Estate conservation can help protect an estate from income taxes, probate fees, and other expenses relating to estate administration. Not to mention, anyone who owns property, owns a business, has investments, and other assets should have a say in what happens to their property when they’re gone. 

Alloy Wealth Management offers estate planning services and works with fee-based attorneys to help create all the legal documents clients need. We’ll explain the difference between a will, a legal document that expresses a person’s wishes, and a trust, which allows for the transfer of assets while helping avoid or reduce federal estate taxes, income taxes, and gift taxes. We will also explain how life insurance can play an important part in transferring wealth in a tax-advantaged way. 

During your meeting with one of our financial experts, you’ll be asked lots of questions about your family, finances, health, and goals. Even when a living trust is determined to be the best course of action, a will is recommended to express wishes to loved ones and designate a guardianship of minor children. Once all documents are drafted and signed, we recommend your estate plan be reviewed every 3 to 5 years, or sooner depending on the size of the estate. If you have questions or are ready to schedule an appointment, call 800-689-3935.