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1030 Craft Road Ithaca, NY 14850

607-257-3282 x1107
admin.cfcuWealth@lpl.com
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Estate Planning

Estate Planning

When you hear the word “estate”, does it conjure up images of Downton Abbey, Wayne Manor or one of J. Paul Getty’s many residences? At first glance, it may seem like estate planning is something quite grand and only for the super-rich. However, it’s really just common terminology encompassing objective financial planning strategies that everyone should consider.

Most people do not spend too much time thinking about end-of-life planning on a daily basis. But you may have loved ones who will soon face these issues. While it’s not pleasant to think about, you may be the one who ends up having to sort out their affairs. And, the reality is, there will come a time when you need to think about yourself and your own family.

Estate planning is the process of designating who will receive your assets and handle your responsibilities after your death or incapacitation. One of the goals is to make sure your beneficiaries receive these things in the most cost-effective way possible. Estate planning can help establish a platform you can fine-tune as your personal and financial situations change. The key question to ask yourself is: how do you want your assets distributed if you die or are incapacitated?

 

Getting Your Estate in Order

 

No matter how young or old you are, getting your business affairs and records organized is an essential part of financial planning. However, there can be many accounts, policies, documents, and other information to organize. Just thinking about what you need to put together can quickly become overwhelming.

Contact us to receive a checklist to start organizing your personal information and important documents into a master file. You’ll feel good about completing the task — and your family will thank you for it!

A trust is your instructions for the management of all or part of your property.

Trusts

 

A trust can provide a measure of comfort, knowing you have a plan in place to help provide for the safe and accountable management of family assets and to direct their use in accordance with your wishes, goals, and objectives.

Different kinds of trusts are designed to meet different objectives. For example, if your goal is to ensure privacy in the settlement of your estate, to centralize control of assets, or to take full advantage of estate tax credits provided by the IRS, you might choose a living or revocable trust.

Different trusts meet different needs and financial goals. 

  • Living Trust
  • Special Needs Trust
  • Survivor’s Trust
  • Charitable Leads Trust
  • Charitable Remainder Trust
  • Generation-Skipping Trust
  • Irrevocable Life Insurance Trust
  • Trusteed IRA

This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.

 

Trust Services


CFCU Wealth Management offers access to comprehensive trust services* including…

  • Custody and Escrow Services
  • Asset Management
  • Trust Administration
  • Trust Settlement Services
  • Agent for Individual Trustee
  • Family Offices

*LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial





Contact us today to learn more.

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Office: 607-257-3282 x1107

1030 Craft Road

Ithaca, NY 14850

admin.cfcuWealth@lpl.com

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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.

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The LPL Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. 

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. CFCU Community Credit Union and CFCU Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using CFCU Wealth Management, and may also be employees of CFCU Community Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, CFCU Community Credit Union or CFCU Wealth Management. Securities and insurance offered through LPL or its affiliates are:

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