Many people think that estate planning is just for the wealthy, but the truth is, we all need an estate plan. If you don’t have a plan, the government’s plan (intestate laws) will control how your estate is administered.
Estate planning for everyone includes fundamental items of importance:
- Naming a guardian for minors and dependents
- Planning for possible incapacity (long term and short term)
- Determining who will be in charge of your estate
- Who will be a beneficiary of your estate
- How to ensure you leave your family in a strong financial position if you pass away unexpectedly
- Protecting an inheritance from creditors, predators and divorce
- Limiting if possible excessive administration fees and taxes
Whether young or old, married or single, straight or gay, everyone must have an estate plan. An estate plan should be reviewed every 3-5 years, or sooner if a major life change occurs. Our firm exclusively practices in the area of estate planning and can assist you with your plan. Simply contact us today to schedule a complimentary consultation.