Based in Mooresville, North Carolina, Cubby Bice delivers coordinated financial planning solutions. One of the client-driven areas of focus for Cubby Bice and his team is estate planning.
Involving the disposition of assets following one’s death, estate planning helps ensure that intended beneficiaries receive the maximum inheritance possible. This begins with a will in place that stipulates who will act as a personal representative overseeing the distribution of assets and the payment of outstanding debt. The will also provide the personal representative with instructions on accomplishing a task that would otherwise fall to the state.
Another estate planning must is a trust, which provides tax advantages by separating assets from the person who creates the trust and those who ultimately receive assets from it. Living trusts further name a designated person to oversee one’s assets if incapacitation occurs. A related option is giving someone power of attorney, which allows them to make financial decisions on your behalf, or those of loved ones if certain situations occur.
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