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Estate Planning

Our goal is to help you control your legacy, regardless of your income or assets, through effective estate planning.

We understand that people generally have more to lose than they realize, but simple planning can usually minimize or eliminate potential losses.

Why Estate Planning Planning Is Important

Today, estate planning is no longer just for the wealthy. With rising long-term real estate values, other investments, and stratospheric medical costs that can erode even a hefty nest egg, estate planning makes sense for everyone.

It is essential to ensure the efficient transfer of everything you have earned during your lifetime as a key part of your long-term planning.

Consider the alternative: if you don’t make decisions for your estate, the government — federal and sometimes state — will do so, with little regard for tax liability or your considerations and can take years to complete.

Estate planning should not be intimidating, nor should it be something to postpone. The most important thing to do is to get started.

Our Approach to Estate Planning

Our financial planning experts recommend that your estate plan should include the appointment of a guardian for any dependent or special-needs children as well as a successor guardian, a will covering your final wishes, and nominating someone to execute your estate.

Additionally, a financial power of attorney allows your designee to manage your financial affairs if you become incapacitated, a healthcare power of attorney enables your representative to make medical decisions if you are unable to do so, and a living will can prohibit extraordinary medical procedures in treating irreversible illness.

Lastly, consider gifts of property or money for favorite charities.

At Snyder Wealther Group, we understand that major life events can occur, such as a birth, marriage, divorce, or death, and that tax laws governing estate planning have drastically changed over the years. That is why we recommend that you revisit your estate plan every three to five years, to help ensure alignment with current laws and make sure your wishes are in place.

Relationships change over time, and so do your net worth and assets. Our goal is to help ensure that your estate plans reflect all of your changes, including newly minted retirement plans, Social Security, pensions, life insurance policies, and investments.

We also recommend that you make an annual audit of your net worth and the people with whom you place your trust. If anything has changed, inform your counsel, and ensure that your documents are up to date so that in the event of a major life change, your estate will be protected.

10 Reasons to Update Your Estate Plan

Below is a list of ten common pitfalls of an outdated estate plan. If any of these apply to you, it may be advisable to update your plan:

  1. Who are your executor and trustee?
  2. Are your children properly protected?
  3. Are you aware of your HIPAA rights?
  4. Has your wealth status changed?
  5. Do you still live in the same state?
  6. Have you remarried?
  7. Would you like to help a charity?
  8. What’s your tax liability?
  9. Is your life insurance adequate?
  10. Is your family on board with your plans?

Leave a Legacy

Finally, each of us has the opportunity to leave a legacy. It does not have to be a grandiose pursuit. By engaging in effective estate planning, you can create a legacy to benefit your family or society.

At Snyder Wealther Group, we are here to help you achieve this. Contact us today to learn more about estate planning, from the perspective of financial planning and investment management, on Long Island.

(631) 289-4224 • Fax: (631) 289-8130 1733 N. Ocean Avenue • Suite B Medford, NY 11763

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Securities offered through Osaic Wealth, Inc., Member FINRA / SIPC. Investment Advisory services offered through Mark J. Snyder Financial Services, Inc. A Registered Investment Advisor doing business as Snyder Wealth Group. Osaic is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic.

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