Estate Planning

The main goal of estate planning is to eliminate uncertainties over the administration of a probate and maximize the value of the estate by reducing taxes and other expenses.

Estate planning* involves the will, trusts, beneficiary designations, powers of appointment, property ownership (joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gift, and powers of attorney.  

Here are 10 simple steps to an estate plan

1. Know how much you are worth
2. Understand estate taxes
3. Create a will
4. Set up a trust
5. Determine health care directives
6. Assign a financial power of attorney
7. Protect your children's property by naming an adult guardian
8. Fill out a beneficiary form for your financial accounts
9. Consider life insurance
10. Talk to an Brenix Credit Union Bank Investment Services professional

*Consult your legal or tax counsel for advice concerning your personal circumstances. Neither Brenix Credit Union Bank, Cetera Investment Services, nor any of its representatives may give legal or tax advice.