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Estate Planning

70% OF ADULT AMERICANS DO NOT HAVE AN UP-TO-DATE ESTATE PLAN OR A LAST WILL & TESTAMENT

Estate Planning is simply the process of getting your affairs in order so that you make things easier for your surviving family members when the time arises. It’s no surprise why 70% of adult Americans put off estate planning or even writing a Last Will & Testament.

For many, it’s simply procrastination- thinking about your own death is not enjoyable and the cost of an estate attorney is another reason to put it off.

Others believe they don’t have many assets to protect in an estate plan which is a common myth. If you own a home and have savings and retirement accounts, without the proper documents your loved ones may end up in probate court.

Another common myth is the assumption your spouse automatically inherits everything if you don’t have a Will- this is not entirely true.

Far too often, these myths lead to loved ones going through unnecessary stress and legal expense when an unexpected tragedy strikes.

At Financial Integrity Group, we feel it’s our responsibility to make you aware of the importance of Estate Planning. It doesn’t have to be difficult, expensive or depressing. It is something you do for your family. Get it done and you will feel better knowing that you’ve taken care of them. All you need to do is take a few simple steps which we can guide you through

Click on the financial topics below to gain some helpful tips and insightful planning regarding your estate.

Your Will ensures all of your assets are distributed the way you want. Without one, the court will decide how your assets will be divided. And if you have young children, it enables you to choose their guardian – not the family court. Keep in mind – a Will only covers property subject to probate. Assets that fall outside of probate that require naming a beneficiary are not subject to probate court.
A revocable Living Trust can be used to manage your assets if you become incapacitated and unable to make decisions. You can name a person you can count on as your Successor Trustee who can take over management of your assets until you are able to do so yourself. You can include instructions on how to distribute the trust assets after your death which makes a Living Trust a dual-purpose estate planning tool.
Did you know a General Power-of-Attorney document is null and void if you become incapacitated? That’s right – when you’re unable to make your own decisions, a Power Of Attorney document must include the term “durable” to show your intent and remain in effect. With a comprehensive DPOA, your selected agent can make decisions about your property, finances, investments, paying your bills, and sign documents on your behalf until you’re able to do so yourself.

Advance Healthcare Directives help ensure your preferences for medical care or end-of-life treatment are respected. The official titles vary from state to state that’s why important to check your state law. These types of documents include:

  • Living Will
  • Durable Power of Attorney for Health Care (also known as Medical Power of Attorney or Health Care Power of Attorney)
  • Designation of Health Care Surrogate, or Health Care Proxy
  • Advance Directive – combines a Living Will and Power of Attorney for Healthcare
Life insurance is also an important component of your estate plan. It can provide tax-free protection for beneficiaries and it does not fall under the jurisdiction of probate court. In addition to being another asset in your estate plan, it helps eliminate the burden on your survivors who may need to cover immediate expenses related to your death.
If you’re the sole business owner, you should have an succession plan. If you have a business with others, you should have a buyout agreement.
Naming a beneficiary for bank accounts and retirement plans makes the account automatically “payable upon death” to your beneficiary and allows the funds to skip the probate process. Likewise, in almost all states, you can register your stocks, bonds and brokerage accounts to transfer to your beneficiary upon your death.
Rather than a funeral prepayment plan, which may be unreliable, you can set up a payable upon death account at your bank and deposit funds into it to pay for your funeral and related expenses.
You should name an adult to manage any money and property your minor children may inherit from you.
Make your wishes known regarding organ and body donation and disposition of your body-burial or cremation.
Store your Will, Trusts, Insurance Contracts, Real Estate Deeds, Stock Certificates, Bonds, investment and financial statements in a safe secure place free from any potential environmental hazards.
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Meet Gary Copeland

With more than 36 years of experience as an independent financial advisor, Gary has developed a financial planning practice in which he specializes in the areas of wealth accumulation and preservation, pre-retirement and post retirement planning, income distribution planning, tax planning, and estate planning. His belief is that sound, prudent planning starts with an academic approach, which involves the coordination of banking, investing, insurance, tax strategies and a solid estate plan. He seeks to identify and isolate financial threats and share innovative solutions that could save from costly mistakes.
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Gary W. Copeland is registered with securities and investment advisory services offered through Brokers International Financial Services, LLC. Member SIPC. Brokers International Financial Services, LLC is not an affiliated company. This site is published for residents of the United States only. Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every advisor listed.

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Gary W. Copeland holds the Series 6, 63, and 65 licenses. He is approved in GA, FL and AL for advisory, insurance and securities services. 

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