Everyone, from young adults to the elderly, are in need of some form of Estate Planning. Once you have a spouse or kids, it is time for an Estate Plan. You need to think about what will happen to your assets when you die? Who do you want to provide for if you are no longer around to do so? What causes would you like to donate to after you die? An Estate Planning process enables you to address these important questions.
It is not just the wealthy who need an Estate Plan. While the
‘rich’ have additional tax planning concerns to address,
those of us with more modest estates still need to decide
what is your plan for your assets upon your death. It is not
just those who are married or who have children who need
an Estate Plan. Although they do need to consider such
issues as guardianship or Special Needs Trusts, those
without dependents are just as much in need of an
Estate Plan as those with them.
The main reason for an Estate Plan is to avoid probate. With an Estate Plan, you, not a court, decides who gets what. A court just divides an estate based on who in your family is still alive - not on your wishes or on the needs of your actual dependents. If you die with an Estate Plan your assets will be properly distributed under your terms. The time and money you invest now will greatly save time and money in the future. Without an Estate Plan, your loved ones will spend more time and money than necessary navigating through the probate process. Unless your estate is terribly complicated, it is probably less expensive than you think. However, an Estate Plan is a “pay forward” process that provides peace of mind.
I prepare customized Estate Plans including Revocable Living Trusts, Wills, Durable Powers of Attorney for Healthcare and for Asset Management, at very reasonable rates. I also handle Probate and offer hands on, very accessible support during Trust Administrations.
If you can’t come to me, I’ll come to you!