June 10, 2016 | Category: Financial Planning
By: Laura M. Torres González, Esq.
Financial Planner / Assistant Vice President
Wealth Management Division, BPPR
The process of estate planning is often misunderstood. In the minds of many people, the term assumes wealth and heirs. However, planning for the disposition of one’s assets upon death offers everyone significant benefits.
The greatest benefit may be in knowing that your wishes will be respected. Designating which assets your heirs will receive is far preferable to having a court make such decisions. Naming your heirs relieves them of unnecessary costs and stress.
EA will is the basis of any estate plan, simple or complicated. Through a will, a person declares how he or she wants his properties or assets to be distributed after death. To draw up your will, you should consider consulting a financial planner and an attorney qualified to do estate planning.
An estate planning professional will ask you tough questions you may not have considered, for example:
Advantages of granting a will
The preparation and granting of a will are essentials for a successful estate planning. For your peace of mind and your loved ones, consult with Popular One’s team of experts in financial planning, to help you develop a plan suitable for you.
Banco Popular de Puerto Rico, its subsidiaries and/or affiliates do not engage in the offering of tax, legal, or accounting advice. If legal, tax, or accounting assistance is required, the services of a competent professional should be sought.
Banco Popular de Puerto Rico, its subsidiaries and affiliates do not offer tax, legal or accounting advice. If you would like to receive legal, tax or accounting advice, you should consult a professional specialized in these areas. Investment products and services are offered by Popular Securities LLC, registered broker dealer and member of FINRA and SIPC. Investment products are not insured by the FDIC, are not deposits or obligations, are not guaranteed by Banco Popular de Puerto Rico and may lose value. Insurance products and services are offered by Popular Risk Services an Insurance broker duly licensed by the Office of the Commissioner of Insurance of Puerto Rico. Popular and Banco Popular de Puerto Rico are not registered brokers. Insurance products are not FDIC insured, or other government agencies, are not deposits or obligations and are not guaranteed by the Bank or its subsidiaries or affiliates. Some insurance products may lose value. Popular Securities and Popular Risk Services are subsidiaries of Popular and affiliates of Banco Popular. Popular One is an integrated services platform through which Popular Securities and Popular Risk Services are offered.
Wealth Management services are generally available to clients who maintain deposits and/or investments of $500,000 or more at Popular. Available to customers who request the service as of January 1, 2019.