An estate plan is not only for the wealthy. Richie Rich will benefit from a plan and so will John Doe. People at all economic levels will benefit.
Upon death, a properly prepared plan distributes property based on your wishes and the needs of your family. Creating a plan can be a simple process allowing you to control how your assets will to be transferred to your loved ones or charitable organizations. If you do not have a plan when you die, your affairs will be handled in probate, and your property could be distributed differently than what you would like. A plan allows you maintain control of how your assets are distributed.
The decision to create an estate plan can evoke many emotions. It may force you to address some of the most difficult questions of life and to confront your own mortality.
An estate plan is one of the most important documents you will ever create. A plan will:
- Determine exactly who receives the property that you worked so hard to accumulate over a lifetime. This property may include the family home, investments, bank accounts, stocks and bonds and valuable collectibles. Without an estate plan, state law will dictate who receives your assets.
- Provide financial security for your family.
- Allow you to provide for non-family members, including friends, charities or institutions. Without an estate plan, the state laws determine how your assets are distributed.
- Allow you to distribute heirlooms to specific individuals or institutions.
- Minimize inheritance taxes.
Creating a plan may is not costly or time consuming. Most importantly, it will provide you with peace of mind.
Give us a call to begin the process 1(833) PROBATE.