ESTATE PLANNING 101: WHAT YOU DON'T KNOW COULD COST YOU THOUSANDS
Your estate is comprised of everything you own. Your home, car, real estate, bank accounts, life insurance, investments, and personal possessions. The question is what happens to your belongings after you die or become disabled and unable to attend to your affairs? If you don’t have an estate plan in place, then the state will make the decision for you. However, with proper estate planning, you can decide who gets what, when, and how and can ensure that your wishes will be cared for when you are unable to do so.
While a proper estate plan can include not only the distribution of your estate according to your wishes, it can also include:
- Instructions for your care if you become disabled;
- Name a guardian and an inheritance manager for minor children;
- Provide for family members and friends;
- Provide for appropriate insurance in the event you become disabled; and
- Minimize taxes, court costs and unnecessary legal fees.
Estate planning isn’t for just people who have retired. No, everyone should have an estate plan in place, no matter how old they are or how much they have. Having a properly prepared estate plan in place will give you, and your loved one’s peace of mind.
If you don’t have an estate plan in place, this Guide, “Estate Planning 101: What You Don’t Know Could Cost You Thousands” is for you. By reading this Guide you will obtain basic information about all of the options you have, what you can do now, and how you can protect you and your family in the future.