Estate planning is the process of creating a master plan for managing property during life and distributing that property at death. In general, estate planning will afford you more control over your assets during your life;provide care if you incur a disability; and allow for the transfer of wealth to whom you want, when you want, at the lowest possible cost. Done correctly, an estate plan will coordinate with your overall investment, business, and insurance plans. Common estate planning issues addressed in the wealth management process include wealth transfer, minimization of transfer taxes, asset protection, and charitable giving.

Everyone can benefit from estate planning. If you don't create your own plan, you should be aware that your state has already created one for you. But your state does not take into account the special needs of you and of your family. In addition, you should remember that estate planning is not just for the wealthy. In fact, planning may be more important for smaller and midsize estates because a misstep could have a greater impact on heirs.

Our wealth management process does not end with estate planning—it seeks to coordinate the estate plan with overall plans for business, investment, insurance, and employee benefits. Thus, an important part of estate planning analysis is selecting and implementing the most appropriate strategies for your wealth management approach. Larger estates involve complex strategies and are supported by a team of experts, including an estate planning attorney, a CPA, and a financial advisor.

In order to prevent or lessen the likelihood of dispute and hurt later, issues should be clearly settled while there still is time. Pursuant to your wishes, we will work with your attorney or provide you with a referral—in either case, we are your advocate.

For those clients who wish to utilize a corportate fiduciary in their wealth planning, Williams Asset Management offers its clients a full range of fiduciary services through partnerships with two major trust companies.  Under this arrangement, Williams Asset Management manages your trust investments and financial relationship, while our trust company partner handles the trust's administrative details.  Clients who wish to name a corporate fiduciary in their wills may now do so in the comfort knowing that Williams Asset Management will continue to manage your investments during the estate's administration and, thereafter, in any testamentary trust created.

Often, your estate plan can benefit from the use of trusts and other services. Commonwealth Financial Network^® has relationships with two corporate trustees: Franklin Templeton Bank & Trust and AST/Capital Trust. These relationships allow us to offer our clients personal trust services. Through these programs, we continue to manage your trust assets, while a professional corporate trustee manages the administrative and fiduciary duties required by the trust document. Here are some of the reasons why you may want to use corporate trustee services:

• Control and manage distributions to trust beneficiaries
• Provide seamless management of trust assets in the event of death or incapacity
• Receive continued investment management from your financial advisor
• Potentially reduce estate taxes
• Avoid probate
• Have trust tax returns filed by the corporate trustee
• Take advantage of favorable trust laws available in corporate trustee states  (Delaware and Utah)

For a side-by-side comparison of a Traditional Corporate Trustee and a Trust relationship through Williams Asset Management, please follow the following link:

Side-by-Side Comparison