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Estate Planning

You’ve worked hard to build and maintain a legacy, and you deserve to pass it on to your children and grandchildren. Estate planning helps you plan to leave the legacy you’ve always envisioned for your heirs. It gives you control over certain decisions such as who should speak for you, who should care for you when you’re unable to, and who should be responsible for managing your finances. Regardless of your net worth, it’s important to have a basic estate plan in place. A proper estate plan provides you with preservation of assets and financial confidence for you and your family.

At North Star Resource Group, we use a unique approach to better our clients’ long-term financial well-being. Estate planning is an extremely complex area, one which is constantly changing and evolving. We know there is no “one-size-fits-all” approach and instead, we take the time to thoroughly understand your financial situation and work with you to actively pursue your goals.

Estate planning can be compared to getting ready for a babysitter.

First, you choose the sitter. It must be a person you trust in your absence. With your estate plan, you’ll also choose important individuals or companies to act as executors, trustees and guardians.

Second, there are written instructions for the babysitter (trusted individual) who will take care of your children (beneficiaries) when you walk out the door. With estate planning, these instructions are permanent- because once you leave, there is no way to communicate.

Ask Yourself the Right Questions

It can be overwhelming to establish what you want for the future. But asking the right questions can help you get your mind straight.

  • How do you want to pass family values, traditions and incentives to future generations?
  • How will you plan for changing estate plans?
  • If you own a small business, have you made plans for its continuation?
  • Are you in a second marriage? Have you discussed how assets should be split between children from different marriages?
  • Do you have a child with special needs? Have you made proper accommodations?
  • How you considered leaving part of your legacy to a community or religious organizations?

Our advisors will help you cover all the financial bases including the circumstances that have never crossed your mind.*

To make sure it performs when you need it most, you  must maintain your estate plan in the face of changes in tax laws, family circumstances and finances. Once an estate plan is in place, you should also review it every few years to make sure it is current and accurately reflecting your goals.

Contact your North Star Resource Group financial advisor to create or update your Estate Plan today.