Estate Planning: A Brief Look

Estate Planning: A Brief Look

| August 12, 2019

Every living being is tethered to the harsh reality of time. This is why estate planning is necessary for every individual, especially those who care about what happens to their legacy once they pass on. By planning accordingly, your family will have a stable foundation instead of a gaping hole where you once stood. Although this topic may seem bleak, it’s necessary to understand how vital estate planning is for not only your future but for a better future for those you hold dear. The Herrera Group is ready to help.

Estate and Legacy Planning: The Foundation of Wealth Management 

Estate and legacy planning are two crucial facets of the world of wealth management. As your advisors, the team at The Herrera Group will be able to outline the best course of action, all while setting up a proper path forward in your (or another loved one’s) eventual passing. But how do you get started? 

This is where we come in. From the outside looking in, estate planning may seem like a very simple process. You simply dictate any specifics about your estate and inheritances then let time do its thing. This may be an overly simplistic way of viewing estate planning, but it’s not entirely wrong. You see, estates tend to be large, behemoth things that require proper planning. Inheritances do play a large role but you will also have to dictate topics such as family guidance for medical decisions and power of attorney. This is why it’s in the best interest of you and your family to take care of these details sooner, rather later. 

Estate Planning for Business Owners

If you own a business, you will also need to plan business succession and exit strategies. These details are, again, very time-consuming and require a keen eye, which is where our firm comes in. We will also be able to discuss other topics such as developing philanthropic and charitable gifting strategies as well as transferring wealth from one generation to the next. 

If you’re ready to start planning for your future, then contact the Herrera Group. We’re ready to answer any questions you may have about estate planning. Remember, there’s no time like the present to start planning for the future!