An estate is the total property, real and personal, owned by an individual prior to distribution through a trust or will. Estate planning is of paramount importance during the wealth distribution phase of an investors life and should be designed to allocate the real and personal property to an individual's heirs while at the same time seeking to minimize estate taxes.
Wills and trusts are common ways in which individuals dispose of their wealth. Trusts, unlike wills, have the benefit of avoiding probate, a lengthy and costly legal process that oversees the transfer of assets. Sometimes, though, it will be useful to make inter vivos gifts (gifts made while the donor is alive) in order to minimize taxes.
Trust Services are available through Wells Fargo Bank, N.A. Member FDIC and Wells Fargo Delaware Trust Company, N.A