Jordon Geiger, Vice President and Trust Officer
Last month we discussed what an estate plan is, certain items to take into consideration when constructing an estate plan, downfalls of not planning and the extensive list of benefits of a well thought out estate plan. After the article was posted I received some questions on what type of estate plan is best. Tough question to answer as the answer is based on personal objectives. Due to the considerable number of inquiries; this month’s article will go over the most commonly used estate plans.
As a general rule, there are four basic ways to leave a legacy: (1) by will, (2) by trust, (3) by beneficiary designation, and (4) by joint ownership arrangements.