Jason Wootten

You protect your legacy by combining insurance and estate planning to ensure your family receives financial security, liquidity, and peace of mind when it matters most. Together, these tools form the foundation of an efficient wealth transfer strategy that minimizes taxes, avoids forced asset sales, and maintains family harmony.  In this article, you’ll learn exactly how insurance supports your estate plan, which policies fit different goals, how to structure ownership for tax efficiency, and what steps ensure your legacy remains intact. Whether you manage a small business, significant real estate, or a multigenerational portfolio, integrating insurance into your estate plan keeps control in your hands, not the courts or tax authorities.  What Is the Role of Insurance in Estate Planning? Insurance is the liquidity engine of your estate plan. It fills gaps that assets alone cannot—covering taxes, debts, and living costs while your estate settles. Without life insurance, estates...

You update your living trust by reviewing it after every significant life change, then making amendments, restatements, or replacements so it continues to reflect your intentions. This article explains when updates are necessary, what steps to take, and how to coordinate your trust with your wider estate plan. By the end, you’ll know exactly how to keep your trust current and effective throughout your lifetime. What life events should trigger a trust update? Major life events alter your family, assets, and priorities. Each of those shifts must be reflected in your trust if it’s to remain effective. Common triggers include marriage, divorce, the birth or adoption of children or grandchildren, or the death of a spouse, trustee, or beneficiary. If you move to a new state, your trust may no longer meet local requirements. Large financial changes, such as selling a business or receiving an inheritance, also demand an update. The most overlooked trigger is the incapacity or passing of a nam...

Charitable giving in your will delivers full estate tax deductions while supporting meaningful causes. When done strategically, this approach can significantly reduce your taxable estate and optimize your legacy. In this guide, you'll learn exactly how charitable bequests work, how the IRS treats these gifts, and what structures offer the most efficient tax advantages. Each section is based on real questions from individuals navigating estate planning with purpose and precision. What Is Charitable Giving in a Will and How Does It Work? Charitable giving in a will—also known as a charitable bequest—lets you name a qualified nonprofit as a beneficiary of your estate. You can assign a specific dollar amount, a percentage of your estate, or designated assets such as securities or real property. When your estate is settled, the executor distributes the charitable portion to the organization as instructed. The IRS allows your estate to claim a 100% deduction for the value of that gift ag...

  Estate planning is a critical component of a comprehensive financial plan , especially for individuals looking to manage their assets and ensure their wishes are fulfilled after their passing. Estate planning goes beyond simply drafting a will; it involves a detailed approach to asset distribution, tax management, and the care of loved ones. Integrating estate planning into your financial strategy secures your financial legacy and provides peace of mind by addressing potential legal and financial challenges that could arise in the future. Understanding the Basics: What is Estate Planning? Estate planning encompasses the preparation of documents and strategies that dictate how your assets will be managed and distributed after your death or incapacitation. This process includes creating legal instruments such as wills, trusts, power of attorney, and healthcare directives. A will is fundamental, but it is just the starting point. Trusts can provide more flexibility and control over...

Estate planning is an essential process that ensures your assets are managed and distributed according to your wishes after your death or if you become incapacitated. Proper estate planning can provide peace of mind, reduce potential conflicts among heirs, and help minimize taxes and other expenses. This guide will walk you through the key steps in planning your estate, from taking inventory of your assets to setting up legal documents and considering tax implications. By the end, you’ll have a comprehensive understanding of how to secure your family’s future and safeguard your legacy. Take Inventory of Your Assets The first step in estate planning is to take a thorough inventory of your assets. This includes both tangible assets like real estate, vehicles, and personal belongings, and intangible assets such as bank accounts, investments, retirement accounts, and insurance policies. Documenting all assets ensures that nothing is overlooked and provides a clear picture of your estate...