The Estate Planning Process

Most people believe crafting a will is the first step in the estate planning process. In reality, your first step should be naming beneficiaries on your financial accounts. Without named beneficiaries on accounts, even with a will, settling the estate will become more complicated. Alloy Wealth Management offers Estate Planning services to help ensure a client’s wishes are carried out and their legacy is passed on to loved ones in a tax-advantaged way.

An estate plan goes beyond a will to cover things most people wouldn’t think of. In the event you are injured and incapacitated, your Financial Power of Attorney will manage your affairs while you are unable, and your Healthcare Power of Attorney will make medical decisions on your behalf. In the event you need nursing home care, long-term care planning can protect your assets from nursing home expenses. Although trusts can be very helpful in avoiding probate and protecting assets from creditors, they will not protect assets from long-term care expenses. That’s why we advise clients on either gifting assets, purchasing products, or ways to financially cover the “what ifs” of life. 

When you contact Alloy Wealth, one of our estate planning experts will advise you on the legal documents you need then will work with a fee-based attorney to get them properly drafted and filed. We’ll make sure you understand each document and help you easily explain them to loved ones. And we’ll meet with you regularly to update your estate plan as life-changes occur. One of the biggest mistakes people make after getting an estate plan is not updating it when they move, get a divorce, or experience a death of a beneficiary. Regular check-ups are a necessary part of our estate planning process and a way for us to stay connected to our clients. Contact Alloy Wealth at 800-689-3935 to schedule an appointment.