We are often asked, what is Estate Conservation?  Estate Conservation is an organized effort to give heirs the maximum amount of wealth, consistent with maintaining your own financial independence, security, and financial objectives.  It can also be defined as the accumulation, conservation and distribution of wealth. 

In its most simple form an estate plan may be comprised of having a Will, as assignment of Power of Attorney and a Living Will (medical power of attorney).  Everyone needs a professionally drafted will to make sure your assets are allocated according to your wishes and to lessen the likelihood of confusion and heirs getting into a legal battle over your estate.

Sometimes a Trust may also be part of an estate plan.  Forming a Trust may also be a valuable tool to help you minimize taxes, reduce the size of your estate and avoid the costs, delays and publicity of probate court.  Generally Trusts are most appealing to people with a net worth in excess of $100,000.  There are 5 basic types of Trusts and they are sufficiently complex that it is essential they be set up properly, so we suggest you consult an estate-planning attorney first.

Don't put all your eggs in one basket.  While you can leave an unlimited amount of money to your spouse, this may not be the wisest move as you are increasing the size of your spouses taxable estate which may mean more of your estate will be subject to estate taxes and less will go to your heirs.  Moreover, your heirs may be forced to sell valuable assets (stock, real estate, etc.) under poor market conditions as the government generally requires full payment of estate taxes within 9 months. 

Moreover, estate taxes (current estate tax exemption is $3.5 million for 2009) are in a state of flux and the changing political climate and federal deficit could mean even more changes for the future.

Life insurance often is also purchased by people (and trusts) as a cost effective tool to provide liquid funds to help pay for future federal estate tax levied against the estate, so the heirs are not forced to liquidate business, real estate or personal assets at an inopportune time.

Contact Us for more information on how we can help you protect your family's financial future.  

Gain Financial Services, Inc.
3200 Cherry Creek South Drive
Suite 700
Denver, CO 80209

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Call us today at (303) 456-7967 or toll-free at (800) 416-4481