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Why Everyone Needs an Estate Plan

Through our comprehensive estate planning analysis, you can be confident that you’re ready to transfer your wealth to the next generation.
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KEY ELEMENTS

Estate Planning and Wealth Management: The Basics

Holistic estate planning incorporates both legal and financial strategies that direct how an individual’s assets will be managed during incapacity or after death. A sound estate plan should incorporate efficiency, tax savings, asset protection, family values, and clarity of purpose. At BIP Wealth, we help guide you in considering the key elements and develop a plan that serves your family’s goals.
Financial Planning Atom
While everyone's estate looks different, several common elements come into play in the typical estate plan. As part of the planning process, your advisor can help you ensure that the elements of your plan coordinate to accomplish your goals.
This governs the transfer of assets that do not name a designated beneficiary and do not have a joint owner. A Will is an effective tool but is subject to the probate process.
This names an agent (sometimes called an “attorney-in-fact”), who can act on your behalf if you cannot handle your own affairs. Your agent can make decisions involving financial and other matters on your behalf.
This names an agent who can make healthcare decisions on your behalf if you cannot communicate them yourself. It also allows you to state your preferences for end-of-life care.
Trusts come in many varieties and may be revocable or irrevocable. Depending on the type used, trust planning can help you avoid probate, ensure the efficient transfer of assets, minimize taxes, and protect assets from creditors.
Beneficiary designations are common on retirement accounts and life insurance policies and can be included on other types of accounts as well. A beneficiary designation controls who receives the asset, regardless of what your will or trust says.
A review of asset titling is an important part of the estate planning process because this can dictate how assets pass at death. For example, individual accounts may be subject to probate; assets held jointly may pass automatically to the surviving owner; and assets titled in a trust pass to the trust beneficiaries outside of probate.
This refers to online accounts like email, social media, and the like. Digital providers often have rules that govern access after the owner has passed, and without thoughtful planning your loved ones may have difficulty accessing and managing your accounts.
Why BIP

BIP Wealth's Approach

A partnership with BIP Wealth gives you exclusive access to our expert financial advisors and in-house Estate Planning Advisor, Sarah Watchko, J.D. Together, we’ll assist with a review and analysis of your existing plan, explain available strategies, and partner with attorneys in private practice who can implement the plan. Ultimately, our goal is to help you:
Sarah Watchko, J.D.

Sarah Watchko, J.D.

Estate Planning Advisor

Navigate Various Strategies

Estate Planning is not a one-size-fits-all endeavor. We can help you explore and analyze the strategies that are most suitable in your particular situation.

Minimize Taxes and Legal Fees

We can help you implement a plan to reduce the size of your taxable estate through annual gifting, trusts, and other planning tools.

Prevent Conflicts Between Beneficiaries

A well-crafted estate plan helps ensure a smooth transition, and clear communication plays a vital role. We’re here to support you in navigating these important family discussions.

Protect Assets from Potential Creditors

An estate plan can be designed to help protect inherited assets from potential creditors, including divorcing spouses, accident claims, or loan guarantees.

Create Generational Wealth

We’ll work closely with you to understand and implement these strategies, helping protect your legacy from risk and preserve it for generations to come.
SECURING THEIR FUTURE

Estate Planning and Special Needs

Families with young or adult children with special needs have unique planning challenges—and estate planning is no exception. Incorporating Special Needs Trusts as part of a comprehensive estate plan helps ensure that loved ones remain eligible for valuable government benefits and that the management of assets is in trusted hands.

Our in-house special needs estate planning team is led by veteran Atlanta Estate and Special Needs Planning Advisor, Sarah Watchko. She can help guide your family through the process of securing your loved one’s financial future by reviewing various strategies and helping you partner with private attorneys to help execute your plan.
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Estate Planning Resources

Frequently Asked Questions

If you do not see your question answered below, do not hesitate to reach out to our team!

What does the estate planning process look like?

Because estate planning is not a one-size-fits-all solution, it is an ongoing process that considers factors such as the type and value of estate assets, family dynamics and circumstances, needs of beneficiaries, and an individual’s unique goals and values.

How does BIP Wealth help with estate planning?

While your individual attorney will handle the execution of your estate planning documents, BIP’s experienced advisors will help you navigate the many strategies available and provide guidance through the implementation of your plan.

What are the potential risks of not having an estate plan?

Although an estate plan is not required to pass down your assets, without one, the process and beneficiaries are determined by state law rather than your individual preferences. This often leads to higher administrative expenses and tax bills as well as conflict among family members.

How much does estate planning cost?

The cost of your estate planning depends on several factors, including the complexity of the plan, your individual circumstances and goals, and the time needed to complete the plan. Some estate planning attorneys charge hourly fees, while others offer ‘flat fee’ packages. At BIP Wealth, we partner with many estate planning attorneys in private practice and can help you find an attorney that best suits your needs.

Find Holistic Estate Planning Services Near You

We proudly serve clients across the country with estate planning and intergenerational wealth planning.
Atlanta
3575 Piedmont Road
Building 15, Suite 730
Atlanta, GA 30305
Alpharetta
2500 Northwinds Parkway
Building III, Suite 100
Alpharetta, GA 30009
Columbus
2101 Brookstone Centre Parkway
Suite 200
Columbus, GA 31904
Nashville
1222 Demonbreun Street
Suite 1425
Nashville, TN 37203

Connect With Us

Want to learn more about how BIP can help you with your estate planning and wealth management needs? Reach out to our team.
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