Estate Planning

An Important Gift For Your Family

What is Estate Planning?

The definition of estate planning is literally the process of arranging the transfer of an estate after a death. When put in that light, estate planning seems pretty dismal. Planning for your possible incapacity or eventual death can be scary to think about. It’s no wonder many people dread thinking about estate planning and postpone creating wills, trusts, powers of attorney and other important documents.

Why is Estate Planning Important?

At The Enrichment Group, we have a completely different outlook on estate planning. To us, an estate plan is one of the most important gifts you can give your family and future heirs. It’s a way to tell your family you love and care for them, even after you’re gone.

A thoughtfully designed and completely executed estate plan could protect your family in some or all of the following ways:

  • Eliminate uncertainties about the administration of probate, or avoid probate entirely
  • Make sure your assets go where you want them to go
  • Designate who will take control if you are incapacitated
  • Protect young heirs from guardianships
  • Maximize the value of your estate
  • Reduce estate, income and capital gains taxes
  • Help protect inherited assets from lawsuits, divorce, creditors and other claims
  • Protect your privacy

The best estate plans are designed to provide you with peace of mind about the management of your assets and the protection of your family’s future.

What is Included in an Estate Plan?

At The Enrichment Group, as you create and implement your Enrichment Plan, your personal financial planner will provide important life advice about estate planning. Planners at The Enrichment Group are not attorneys and do not provide legal advice, but they will collaborate with you, your family, your attorney and your tax advisor. You and your team will create an estate plan designed to protect you and your family.

To implement your estate plan, your attorney may recommend some or all of the following documents or services:

When Should I Consider Creating an Estate Plan?

Estate plans should not be postponed, even if you are young and healthy. Estate plans can protect single people, married couples, families and retirees. At the bare minimum, regardless of your net worth, you should create an estate plan as soon as you have a dependent or your first child.

If your estate plan is out of date or you don’t have one, consider working with the life planners at The Enrichment Group by giving us a call at (305) 274-1600 or contact us online.


Elizabeth & Paul

Need to Update their Estate Plan

Their current wills were signed over twenty years ago when their children were young. Now their children are grown with families of their own and it is time for Elizabeth and Paul to revise their estate documents. They want to make sure there is continuity of control of their assets and that there are measures in place that will allow their son, Kevin, to make financial decisions if they are incapacitated. They want to make sure that there are adequate funds set aside to pay for the education of their three grandchildren.

It’s time to think through many decisions. Who will make health care decisions for them if neither Elizabeth nor Paul can make those decisions? Will money be left in trust for the grandchildren? Will assets be distributed outright to their children? How can they make sure that Elizabeth’s elderly mother will be cared for? Should they plan to make charitable gifts in their estate plan? How can they talk to their children about their decisions and wishes?

Do you need to update your estate plan?

Contact the Enrichment Group for Advice >>