Estate planning involves deciding how you want your assets distributed after you die (or become unable to make your own financial decisions). Believe it or not, you have an estate. In fact, nearly everyone does. Your estate is comprised of everything you own— your car, home, other real estate, checking and savings accounts, investments, life insurance, furniture, personal possessions. No matter how large or how modest, everyone has an estate and something in common—you can’t take it with you when you die. Estate planning can be complicated, so it is best to consult a financial advisor. It’s important to have a basic estate plan in place regardless of your net worth. Although it may seem like a morbid chore, estate planning offers several benefits:
– You get to name the people to whom you wish to give your assets – and your wishes will be legally binding.
– You can arrange it so that taxes siphon as little as possible from your estate.– You have the satisfaction of knowing that your financial affairs are in order, so you won’t bequeath a costly administrative nightmare to your loved ones.
We have the knowledge and resources to customize an Estate Plan for you!