No matter your net worth, it is important to have an estate plan in place. First Citizens has the expertise needed to help determine your estate planning objectives and address the issues that are most important to you.
We begin the estate planning process with a private meeting to help you identify your unique set of goals. These goals may include the transfer of assets, protecting family farms and gas royalties for future generations, planning for nursing home costs, mitigating tax liabilities and preparing for incapacity. As an integral part of the team, we work with your attorney, accountant, and other advisors to implement an estate plan that best achieves these goals.
Establishing Your Estate Plan
Protect what matters most to you. Every day, you make decisions that protect your family and your property. Who will protect them when you’re gone? Being prepared for your passing doesn’t mean you’re morbid, it means you’re smart. No matter your age or wealth, a well-thought-out Estate Plan helps ensure your family is taken care of and your property is distributed as you wish when you pass. Without one, your family could face unnecessary tax burdens and the courts could determine how your assets are divided. Check out this brief video to learn more about the importance of an Estate Plan, how it works, and how to get started.
The Three Important Documents You Need for an Estate Plan
As First Citizens Trust & Estate Planning Officer, I suggest every adult prepare three important documents. A Financial Power of Attorney, A Healthcare Power of Attorney and Living Will, and your Last Will and Testament. This video provides insight into these three important documents.
The Importance of a Will
In this video, I'll take a closer look at the Last Will and Testament with a brief overview of what happens when you don’t have a will, and some important provisions of a will.
- In-house experts familiar with legal and tax consequences in Pennsylvania and New York
- Customized estate plan tailored to your wants and needs
- First Citizens works with you and your advisors
- Develop tax strategies to reduce estate, inheritance, generation-skipping, gift and income tax
- Reduce estate delays
- Protect your wealth and legacy for loved ones, business successors or charities
For more information, contact our Trust & Estate Planning Officer Flori Prough today!
Florence L. Prough, J.D., L.L. M., C.M.M.
AVP, Trust & Estate Planning Officer