While much of financial planning has to do with acquiring and preserving assets, estate planning is concerned with the most effective way to distribute assets. Many people are uncomfortable discussing estate planning, which is understandable. But, without an estate plan, everything you hold dear could be at risk.

"Decision-making is out of your control when you do nothing. The old adage ‘failing to plan is planning to fail,’ is really true when it comes to planning your estate. Your surviving spouse, your minor children, and existing special needs may not be adequately provided for without a well thought out estate plan. Your estate may pay more estate taxes than would be necessary; your business succession plan might not be implemented. Many negative consequences can arise from failing to properly plan your estate." said Carol Craig, JD, Trust Officer at Busey Wealth Management.

Disability planning is also an important component of estate planning. Trust documents and powers of attorney for property and healthcare are an important part of your estate plan and should be discussed with your attorney.

Your Executor is charged with the responsibility of carrying out your wishes as expressed by the terms of your will. The selection of your Executor is important and should not be taken lightly. Your Executor should have the experience and the expertise to handle the complexities involved in settling an estate. Estate administration is time consuming and involves interacting with attorneys, accountants, beneficiaries, and grieving family members.

The actual administration of your Estate includes:

Busey Wealth Management has skilled professionals that have built a strong reputation for accurate, efficient estate administration. Your Executor is one member of a team of professionals who work together to protect your legacy and minimize dissention among family members and beneficiaries.

Responsibilities are complex and detailed and can include:

Choosing a personal representative who is experienced in handling estates of all sizes with a reputation for accurate, efficient Estate settlement to handle the duties of settling your Estate will relieve family members and friends from the labor and liability involved in handling the settlement of your affairs. At Busey Wealth Management, we have years of experience in handling Estate settlement.