Most people know they need to make time for Estate Planning, but keep pushing it to the back of their To Do list. Especially if you have never done it before, Estate Planning can feel intimidating. Working with an attorney is something people normally only do if they’re in trouble, and seeking one out feels like a lot of work.
Here’s the secret: Estate Planning is a lot easier than you think. Estate Planning is the process of working with an attorney to create a legally-binding plan for what will happen to your belongings and property (known as your estate) and your remaining money (known as your assets) after you pass away. Estate Planning can be done through a number of different methods, including Wills, Trusts, and Healthcare forms.
The first thing that people might not know about Estate Planning is how essential it is. If someone passes away without creating an Estate Plan, those decisions are made for them by the state that they lived in. They aren’t automatically passed on to your loved ones, they are sent to probate court. In probate, a Judge makes the final decisions for you about what to do with your property.
If you have any sort of strong feeling about what you want to happen to your estate, Estate Planning is a must. In probate court, you will have no guarantee that your private wishes will be honored without an Estate Plan. Furthermore, passing along your estate is very difficult without an Estate Plan for blended families. To learn more about the intricacies of Estate Planning for blended families, check out our Free Resource.
The second thing that people might not know about Estate Planning is how many aspects it can cover. For instance, Estate Planning allows parents of young children to pick their preferred guardian in the event of an emergency. This is another decision that would normally be made by the state if you did not have an Estate Plan. On the other side of the age spectrum, Estate Planning also allows you to make provisions for yourself when you get older relating to how you want to be treated and who you want to help make decisions for you.
The third (and most important) thing that people might not know about Estate Planning is how easy it is! Estate Planning can really be as complicated and involved as you want it to be. If you want to spend an afternoon just covering the base essentials, you can do that! If you want to create multiple Trusts for multiple causes and structure your tax strategy around your Estate Plan over many months, you can do that too.
At Dublin Packard, we make Estate Planning easy for everyone. We know how important creating an Estate Plan is, and we want to make it accessible to all. To get started on your Estate Plan, contact Dublin Packard today! We want to help you protect your assets and protect your family.
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Todd Murphy
Latest posts by Todd Murphy (see all)
- Should I put my house in a trust? - July 26, 2023
