A Will is vital to any successful estate plan. It details how your estate is to be managed, and, after payment of bills and taxes, how it is to be distributed. The Will names a Personal Representative (sometimes called Executor in other states) as the person to administer the estate according to the terms of the Will. In addition, there should be coordination between the Will and assets titled in ways that result in other methods of distribution at death, such as assets held in joint tenancy or passing by designation of beneficiary. . . . read more »

A Financial Power of Attorney grants to a designated agent the ability to act on behalf of the principal. These documents can range from specific, limited tasks, to all the rights and powers you yourself have. They can take effect immediately, or only in the event of disability. . . . read more »

A Trust agreement is an agreement between an asset holder and Trustee, to manage and distribute those assets, for the benefit of a beneficiary or beneficiaries. Trusts can be a powerful tool in estate planning as they provide a great deal of supervision and flexibility over direct distribution of assets. . . . read more »

Transfer of property as part of an estate can be done through several routes in a well structured estate plan. Each route carries its own implications involving estate and income tax, probate involvement and other factors. . . . read more »

A solid estate plan should address tax issues. Among your options, varying tax strategies can reduce your taxable estate and income. Beth Sparks Hunt pllc, has the financial knowledge and expertise to assess your goals in a full estate plan, minimizing your tax liability as much as possible. . . . read more »