Estate Planning Made Easy

How to distribute your wealth to the people you want, when you want, in
the way you want.

BY DAVID PHILLIPS
President, Estate Planning Specialists, Inc.

As a youth and a musician, I always appreciated the beautiful music of Karen Carpenter. Her voice was incomparable and her songs inspirational. At the same time Karen was topping the charts with “We’ve Only Just Begun,” another musician was creating fans in a totally different element. While the music scale was all they had in common, they both had extremely successful careers, making millions.

Interestingly enough their propensity to make a fortune in the music industry wasn’t their only commonality. Their other was that they both failed miserably to plan their estates and, as such, the IRS and creditors had a field day, confiscating their riches to the tune of 50% plus.

The other musical genius was none other than Mr. “Deadhead” himself. Jerry Garcia, the lead guitarist and lead singer of the Grateful Dead. As USA Today reported, “Even before Jerry’s ashes had been scattered in the Ganges, his estate was being picked over like a yard sale. Current and past wives, jilted lovers, family members, his acupuncturist, car dealer and personal trainer all were jockeying for a piece of the multimillion dollar spoils. One claim against Garcia’s estate was even filed by a guy who said he spent time ‘babysitting’ the rock star during a drug binge.” Much to the dismay of his rightful heirs, Jerry felt he was immortal so why plan.

Karen, on the other hand, was a little more realistic. She just didn’t have any cash to settle her $6 million in estate settlement expenses. For some reason, she assumed that things would take care of themselves and the $2,721 she had in the bank would cover her debts. Because her assets were illiquid and her cash was minimal, her family had to sell virtually everything, shrinking her fortune to 58% of its original value.

While these accounts highlight the horrors of improper estate planning for celebrities and they get the press, what about the average affluent American? You know who I’m referring to; the neighbor down the street, associate, friend and relative who has a net worth in excess of $1 million they’re considered wealthy, affluent. Tragically, most are no better off than Karen or Jerry. In fact, 70% have no logical plan to distribute their wealth from one generation to the next. They play right into the hands of the Federal Government. It’s lunch time for the hungry agents of the IRS and they’re eating fast food and plenty of it.

What happens even in modest estates when one fails to plan? All too often we hear of families totally torn apart because a parent or grandparent fails to predetermine who gets what. “She wanted me to have it,” claims one child. “No she didn’t, she promised it to me,” retorts another. Who is right? Only the deceased knows for certain. Too bad she didn’t write it down. Too bad she didn’t take a few minutes and let her true wishes be known.

At a time when we want the best of feelings to exist in our family, at a time when we want them to find comfort in each others arms, we, out of selfishness, can foster the worst traits in the spectrum of human emotions. Anger, envy, jealousy, and even hate can be found when confusion is wrought.

Remember, there are no survivors in life. The real tragedy is not just the loss you suffer when a loved one is gone, but add to that the grief of finding that the enormous estate settlement costs, which includes estate taxes and state inheritance taxes, will devalue your hard earned estate by as much as 80%. What most people don’t know is that to structure an estate that will minimize taxes, avoid probate expenses, decrease other settlement costs, and carry out one’s wishes is actually not all that complicated. However, Americans continue to procrastinate. Whether it’s out of fear of their own mortality, the assumption that the value of their estate is not substantial enough, or they think the process is too complicated.

The fact remains, when you take into account personal items, including real estate, cars, insurance policies, savings, etc., many find their estate to be much larger than expected. And as quoted by Adrian Day, editor of Investment Analyst, “If you pass away with an unprotected estate worth more than $2 million, your heirs will be faced with a tax bill totaling anywhere from $400,000 to $800,000. But, if you protect your estate properly, that bill could be reduced to zero.”

This is solid proof that planning for a smooth, orderly transfer of your estate to the loved ones of your choice makes sense, and it can be easy if you take a few minutes to pre-plan.

An Estate Plan Lets You Maintain Control of Your Financial Affairs and Privacy

Granted, estate planning is easy to put off. Maybe you think it’s too early. Or maybe you think it’s too late. Or maybe you just think your estate is too small. Regardless, here are six good reasons why you should plan your estate and why you should do so now:

1. With a plan, you decide who receives a share of your assets. Without a plan, state laws, determine who inherits your assets (they could even pass to an estranged relative).
2. With a plan, you decide how and when your beneficiaries will receive their inheritance. Without one, the terms and timing are set by law.
3. With a plan, you decide who’ll manage your estate. Without one, the court appoints administrators people whose ideas may not be compatible with your own.
4. With a plan, you can reduce estate taxes and administrative expenses. Without one, costs are usually greater.
5. With a plan, you can select a guardian for your child. Without a plan, the court appoints one. And…
6. With a plan, you can provide for the orderly continuance or sale of a family business. Without one, financial loss and family hardships may result from an untimely forced sale.

In short, an accurate estate plan lets you distribute your wealth to the people you want, when you want, in the way you want.

Start With a Personalized Estate Analysis
I hope by now you understand the horrible consequences of not properly planning for the transfer of your wealth. After working so hard to acquire your wealth, it seems such a shame to neglect it and allow creditors, predators and the IRS to claim so much of your estate.

But now, it’s easy to fight back.

After three years of extensive research lead by myself and a team of highly respected and experienced planners and Attorneys that specialize in estate planning, we have developed a unique service, the comprehensive ESTATE ANALYSIS.

What is the ESTATE ANALYSIS? Well, it’s really the first step to successful estate planning and peace of mind.

Simply put, an Estate Analysis is an impartial review of how your assets would be distributed assuming you had an accurate estate plan versus how they would be distributed based on your current level of planning. It’s a hands-on, easy-to-understand evaluation of your personal situation. It offers specific suggestions and recommendations to help you conserve and protect your hard-earned assets from the ravishes of probate, conservatorship and estate taxes. In essence, an Estate Analysis is the blueprint of a successful estate plan.

And best of all the Estate Analysis available for only $149.95.

The ESTATE ANALYSIS is painless. It begins with a simple questionnaire which results in a personalized synopsis that includes an up to the minute projection of your tax bill today, based on your current estate plan. It then compares that tax liability, assuming you have incorporated various key recommended estate planning strategies.

Your Estate Analysis will also include your very own personalized “Summary and Recommendations,” outlining tools that will not only help you minimize your tax liability, but distribute your wealth in the most equitable, tax-favored manner.

Another feature of the Estate Analysis is the useful “Wealth-Creation” ideas that will enable you to build up your estate, and help you attain the full and proper distribution of your property.

Your personalized ESTATE ANALYSIS makes it easy for you to make certain your family’s financial security is guaranteed by making you completely aware of where you stand in regard to estate taxation and probate fees. The nice thing about the ESTATE ANALYSIS service is that it takes your goals and needs into account and provides clear concise recommendations.

The Estate Analysis – Your Personal Road Map to Proper Planning

No matter the size and makeup of your estate, you should develop and implement an estate plan to guarantee your wishes will be carried out.

How to begin, you ask? You would never start a journey in a strange country without a road map. The same is true in planning your estate. You should never start without a clear understanding of where you are going and what you want to get out of the trip.
The Estate Analysis will be your guide as you travel the road of proper estate planning. Once you are armed with adequate knowledge and strategies, the journey will be an easy one.

To order your Personalized Estate Analysis, simply complete the one page, easy-to-complete confidential ESTATE PROFILE electronically attached to this article. The more information you provide the more accurate the Analysis and recommendations will be. Plus, for your safety and privacy, all information is kept strictly confidential. Furthermore, all data you provide will be encrypted and only accessible by our staff and yourself by using your designated password. Should you want to forward the form via the mail or fax, you may print it, complete it and send it to:

If you have questions, please call one of our planners at Estate Planning Specialists toll-free at 1-800-932-5559.

That’s all there is to it! Remember, a proper estate plan will benefit you in so many ways. It will help ensure your hard-earned assets are passed to your heirs in the manner you choose. It will help protect your family from unnecessary attorney’s fees and legal costs. And it will allow you to take advantage of the latest tax reforms to reduce your estate and income taxes, both federal and state.

You owe it to yourself and your family to arm yourself with your very own personalized Estate Analysis, ….. the “Road Map” to a proper estate plan. Too much is at stake…especially if keeping matters private and under your family’s control is important to you.