Putting First Things First

Ask Diane Tom about estate planning and you get a straightforward response: “In a world teeming with technically focused information and expertise, it is easy to put the cart before the horse.” Given the complexities and responsibilities of managing wealth these days, we asked the Vice President, Personal Trust Services, to share her thinking on helping individuals and families put things in better order for future generations.

Q: How does estate planning sometimes get turned around?

Diane Tom:  Clearly, a comprehensive estate plan cannot be completed without focusing on financial and tangible goals. It is critical to determine who is going to receive what, when and how. There is a world of technical resources at your fingertips—articles and advice dealing with everything from minimizing estate expenses by using multiple wills and named beneficiaries on registered retirement accounts, to implementing multijurisdictional tax-planning strategies, and beyond.

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