Estate Planning is not just for the uber-rich. Regardless of your financial status you can (and should) still benefit your family by having a personal estate plan. Many people avoid planning their estates under the false belief that estate planning is only necessary for the wealthy or those in their later stages of life. However, estate planning is imperative in order to protect yourself and your loved ones, regardless of financial status.
Failure to put together a comprehensive estate plan can put the decision of what happens to your assets in the hands of other people and may result in time consuming and stressful court proceedings for your family members.
Maybe you have grandchildren that cannot manage an inheritance on their own. Maybe you want to establish a college fund. Maybe you want to leave a donation to a nonprofit support group. Estate planning involves more than just signing a will; it ensures that all your assets go exactly where you decide.
Without a properly executed estate plan, your divisions of assets will be determined by a court, without consideration given to the minimization of estate tax or proper protection of assets for your family.
With simple estate planning, you can ensure that your assets pass how you want them to, when you want them to — via a strategy designed specifically to fit your family’s needs.
Estate Planning Services Available:
- Powers of attorney
- Revocable living trusts
- HIPAA authorizations
- Health care directives
- Irrevocable trusts
- Dynastic trusts
- Family limited partnerships
- Life insurance trusts
- Gift programs
- Qualified personal residence trusts
- Retirement trusts
- Minors’ trusts
- Tax planning
- Generation-skipping trusts
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The best time to contact an attorney is before you need one. Reach out today.