Estate Planning
How Can I Help?
Together, we can create a plan that reflects your values and secures your legacy.
Estate Planning with Purpose and Protection
Your legacy should reflect your values and provide security for those you care about. Our estate planning services help structure and transfer your assets according to your goals — while minimizing tax exposure and avoiding legal complications. We collaborate closely with experienced legal partners to ensure your estate plan is thorough, compliant, and gives you lasting peace of mind.
Protecting your legacy requires more than a will — it takes a thoughtful plan.
Will or Trust
A will or trust directs how your assets will be distributed after your death and names the individuals or organizations you want to benefit. Trusts can also help avoid probate, provide privacy, and manage assets for beneficiaries over time.
Power of Attorney
A financial power of attorney allows someone you trust to make decisions on your behalf if you're unable to manage your own affairs. This ensures that bills, investments, and legal matters are handled smoothly without court intervention.
Healthcare Directive
A healthcare directive, or living will, outlines your preferences for medical care if you’re unable to communicate your wishes. It also allows you to name a healthcare proxy to make decisions in line with your values and instructions.
Beneficiary Designations
Designating beneficiaries on accounts like life insurance, IRAs, and 401(k)s allows those assets to pass directly to your chosen recipients. Keeping these designations current is essential to avoid conflicts and ensure your intentions are carried out efficiently.
Estate planning is more than a set of legal documents — it’s a personal process that reflects your values, goals, and the legacy you want to leave behind. That’s why it’s essential to work with a financial advisor who takes the time to truly understand your life, your family, and your unique financial situation.
At Fleming Financial Solutions, we believe effective estate planning starts with a relationship. By knowing you well, we can help design a strategy that aligns with your long-term goals, minimizes tax burdens, and protects your loved ones from unnecessary complications.
FAQs
Frequently Asked Questions
1. What is estate planning and why is it important?
Estate planning is the process of arranging how your assets will be managed and distributed after your death or if you become incapacitated. It ensures your wishes are carried out, protects your loved ones from legal delays or tax burdens, and provides peace of mind.
2. Do I need a will or a trust — or both?
A will outlines who receives your assets and can name guardians for minors, but it must go through probate. A trust can help you avoid probate, manage assets during your lifetime, and provide more control over how and when assets are distributed — many people benefit from having both.
3. How often should I update my estate plan?
You should review and update your estate plan every 3–5 years or after major life changes, such as marriage, divorce, a new child, or significant changes in assets or health. Keeping your plan current ensures it reflects your latest wishes and circumstances.
4. Who should I choose as my power of attorney or healthcare proxy?
Choose someone you trust to act in your best interest, who understands your values, and is willing to carry out your wishes. This could be a family member, friend, or professional, but they should be capable and comfortable making decisions under pressure.
5. Can estate planning help reduce taxes?
Yes. With the right strategies — like gifting, trusts, and charitable contributions — estate planning can help reduce or even eliminate estate taxes, allowing more of your wealth to pass to your beneficiaries.