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Estate Planning

Plan for your Legacy

In addition to retirement plans, you really need to look ahead to your significant others' need to deal with your assets and arrangements after you're gone or are no longer able to make decisions of your own free will.

summit financial group of indiana can aid you in your estate planning journey

An Estate Plan

In the event that you become incapacitated, things like your houses, cars, stocks, paintings, life insurance, pensions, and debt become the responsibility of any executor that you name—so be sure you pick them well!

summit financial group of indiana will assist you in planning for your estate taxes

Plan for Estate Taxes

Federal and state taxes on an estate in Lafayette, Indiana can considerably reduce its value before asset distribution is made to beneficiaries. There are steps you can take to reduce the impact of these taxes:

  • If married, you can set up an AB trust that divides into two after the death of the first spouse.
  • Give to charitable organizations to reduce the financial size of the estate, thus lowering the estate tax bill.
  • Estate freezing can limit tax liability while attributing the future growth of that property to others. Any increase is attributed to the other person. 

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