Estate Planning begins and ends with an open and honest conversation. Put simply, if you and your partner suffer a tragic fate, will your children be taken care of, will your possessions be handed out according to your wishes, and will you have a plan in place for anyone entrusted to make those decisions?
When Properly Designed, Estate Planning can:
Keep most (or all) of your assets from going through a costly and lengthy Probate Court process.
Name a guardian and financial manager to care for your minor children in case you no longer around.
Provide instructions to your loved ones regarding your wishes for a burial and funeral.
Minimize taxes, court costs, and unnecessary legal fees.
Protect your assets from getting into the hands of loved ones’ creditors.
Provide for your own care and protection in the event you become incapacitated or disabled.
Provide for the transfer of your business at your retirement, disability, or death.
Provide a means to pass along values to your children and family, including religion, education, work-ethic, and compassion!
Provide for family members with special needs without disrupting government benefits.
Provide for loved ones who might be irresponsible with money or who may need future protection from creditors or divorce.
Eliminate the opportunity for disagreements between your loved ones over how to handle your estate, assets, and burial.
Estate Planning is about ensuring that there is a plan for what happens to you, your belongings, your children, and your assets after you pass on or become incapacitated. Whether you have millions in assets or are living on a pension, having an estate plan is crucial to making sure you leave behind a legacy that is respectful and deserving of you and your family.