Estate planning

Helping you protect your legacy

No matter how large your estate is, a sound estate plan remains the best assurance that your assets will be distributed to the heirs you select in the way you choose. It can also help protect your financial security if you become incapacitated.

While reducing taxes can be an important goal, it’s not the only reason to develop an estate plan. Regardless of what happens with tax legislation, an estate plan can be an essential part of your financial program.

As you put together your own estate plan, consider these elements:

• A will can specify who gets what and name guardians for minor children.
• Durable powers of attorney allow whomever you choose to make financial and medical decisions if you become unable to do so yourself.
• Beneficiary designations on retirement accounts, life insurance policies and the like must be coordinated with the rest of your estate plan. Those assets will go to the listed beneficiaries, regardless of your will.
• Titling of assets also should be coordinated with your total estate plan. Property owned jointly with right of survivorship, for instance, typically goes to the survivor, superseding any instructions in a will.
• Trusts are flexible tools that can be used to manage investments during your lifetime and beyond, distribute assets to heirs under circumstances that you spell out, minimize estate taxes, maintain the privacy of your financial affairs and protect assets from lawsuits and seizures.

Estate planning can protect your family's interests and ensure that your wishes are carried out.

What if I don't have a will?
If you die without a will or other testamentary document, the probate court distributes your estate according to state laws. About a third of the states have adopted all or part of the Uniform Probate Code, which provides for the following structure for distributing property if you die without developing an estate plan (intestate):

• If there is a surviving spouse and no surviving children or surviving parent of decedent, all property passes to the spouse.
• If there is no surviving children but decedent is survived by a parent or parents, the first $50,000, plus one-half the balance of the estate passes to the surviving spouse. The remainder passes to the decedent's parents.
• If there is a surviving spouse and surviving children of both, the first $50,000 plus one-half the balance of the estate passes to the surviving spouse. The remainder passes to the surviving children equally.
• If there is no spouse and no children, the property is divided evenly between your parents. If no parents are living, it is evenly divided among the descendants of your parents, namely your siblings.
• If there is no living relative, the property reverts to the state.

In addition, the probate process is time consuming and expensive. Consult your financial professional to learn how to protect your estate.

Securities and Investment Advisory Services are offered through:
Securian Financial Services, Inc.
400 Robert Street North, St. Paul, MN 55101-2098
Securities Dealer, Member FINRA/SIPC
A Registered Investment Advisor
1-888-237-1838

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