What is Estate Planning?
If you don't have a plan, your state has one for you but you probably won't like it. Believe it or not, everyone has an estate plan. The question is, did YOU prepare your estate plan, or did the state plan one for you? If you don't plan how to protect yourself and your family the state will put a plan in place for you, and most people don't like that idea!
Too many people don't plan.
Individuals put off estate planning because they think they don't own enough, they're not old enough, they're busy, think they have plenty of time, they're confused and don't know who can help them, or they just don't want to think about it.
The right plan can help you and your family:
- Reduce or eliminate fees and court costs associated with probate
- Protect the privacy of your family and the estate.
- Minimize taxes, and preserve the wealth you have accumulated.
- Transfer your assets to the next generation as easily as possible.
- Protection against any major catastrophes to your health, including disability.
- Reduce the frustration and emotional stress on the family.
You have the right to decide how your property is to be transferred to others during your lifetime and at death. A well designed estate plan will enable you to control your property during your lifetime. It will permit you to determine who is to receive your property, when they are to receive it and under what conditions.
With a well-designed estate plan, you can:
- Protect your assets from being lost to unnecessary taxes, nursing home expenses, and probate fees.
- Ensure that someone you know and trust can handle your affairs if you become disabled.
- Help maintain your independence and keep the court out of your medical decisions.
- Eliminate worries that your assets might end up in the wrong hands
An estate plan is about more than planning for death. It is about planning for whatever comes your way during your lifetime. A sound estate plan adds up to peace of mind for you and your family.