When you hear someone mention estate planning, you may envision having to designate who you would like to give your assets to upon your death, what you want to give them, and when you want them to receive it. However, that is really just one component of a comprehensive estate plan. Aside from designating and directing the distribution of your assets, a good estate plan should also include:
- Instructions for your care if you become disabled before you die
- Name of a guardian for minor children
- Provisions for family members with special needs
- Gifts to charitable organizations you value or have ties to
- Disability insurance to replace your income if you cannot work due to illness or injury
- Long-term care insurance in the event you suffer an extended illness or injury
- Life insurance to provide for your family after your death
- Business transfer plan effective upon your retirement, disability or death
- Scheduled reviews and updates to address changes during your lifetime
Most people want to have an estate plan because it minimizes unnecessary taxes, court costs, and legal fees while also saving loved ones time and additional stress during a very difficult period. First Hawaiian Bank has skillfully selected a team of experienced professionals who can provide you with a multi-disciplined and integrated approach to estate planning. Their expert guidance will provide you with a plan that addresses your personal desires and ensures the assets you cultivated during your lifetime will continue to provide for the future of those most important to you.
Learn more about First Hawaiian Bank’s Trust & Estate Services and how we make a difference for you and your heirs. To find out how Estate Planning can help you leave a lasting legacy, visit a First Hawaiian Bank branch near you and ask to speak with a Wealth Advisor, or call (808) 525-6280.