Take a look at the following information to learn 9 cool things that estate planning can do for you. If you have any questions, or if you’d like to begin creating your estate plan, meet with an estate planning attorney.
Estate Planning will:
- Give you control over who will get financial support during any period that you are incapacitated, as well as who will receive your assets after your death;
- Prepare for your child’s future by planning for college, protecting assets they will inherit, and naming guardians;
- Protect assets from creditors and predators;
- Make sure that your family has enough assets to pay bills after your death by analyzing saving and insurance needs;
- Give you control over who will handle your affairs after your death so that your private financial and family affairs remain private;
- Protect you during incapacity so court intervention is avoided and you stay in control by appointing agents and trustees to support you with financial management and health care decisions;
- Plan for long term care, college, and retirement costs;
- Minimize your estate tax responsibilities and reduce fees; and,
- Protect your family business from creditors and best ensure that it makes the transition to the next generation.
If you have yet to begin your estate planning, now is the time to do so. If you choose not to plan, you will have no control over how your affairs are handled. An estate planning attorney can work with you so that you’re able to achieve all of your planning goals. You will find that with an estate plan in place, you’re able to live a less stressful life, because you will have confidence that your affairs are already in order.
If you have questions about how estate planning can individually help you, consult with a qualified estate planning attorney.