Estate Preservation: Understanding the Basics

You don't have to be wealthy or elderly to create an estate plan. If you recently retired with a bigger pension than you imagined, or simply want to leave gifts to your loved ones instead of to the government, then you might want to think about estate planning.

Put simply, estate preservation is a plan to create, conserve, and transfer wealth — during your lifetime, as well as at your death. Just knowing a few basic facts about how your estate will be taxed will help you protect your family or business in the case of your disability or death.

To get you started, here are a few answers to some basic questions:

Since 1845, New York Life has kept families and businesses secure through the Civil War, two World Wars, the Great Depression, and numerous recessions. Fate may be unpredictable, but New York Life's promise to your beneficiaries is not.

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