Joseph Andolino | Establishing An Estate Plan

Joseph Andolino is an expert in his field and reminds us, this is not as difficult as you think.

Many people put off establishing an estate plan because they fear that the process is too complex and takes too much time. In fact, it requires very little time since your tax consultant does most of the work, and any reasonable investment of time and effort can save you money.

The most difficult thing is to get started. To begin, you will need to list your assets and liabilities and determine your net worth. You will also gather all your personal documents and then then ask yourself what are the objectives of your estate plan:

  • Who are your beneficiaries?
  • How do you divide your property between them?
  • The legacy he will be paid at once, on the spot or later, or will you use a trust to program a series of payments?
  • What will happen to your important assets, such as a family or a second home?

These are just a few questions that you should consider, but it is always advisable to prepare a will, power of attorney and a mandate in case of disability, regardless of the size or complexity of your estate.

A mandate, in case of incapacity does not really impact your will, but it allows you to give instructions on what to do if you ever become unable to express your wishes. In addition, an insurance contract can be useful for planning your estate. When dealing with matters of an estate, wills or taxes you should consult a tax attorney.

Joe Andolino has been providing expert advice on estate tax, wills and matters with the IRS for over 20 years.

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Review some of Joseph Andolino’s other articles on tax saving strategies

Tax Saving Strategies 


One thought on “Joseph Andolino | Establishing An Estate Plan

  1. Pingback: Five strategies for transferring your assets | Joseph Andolino | Joe Andolino | New York, NY 10019 | 646-406-4738

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