Top 10 Reasons to Estate Plan
- Protect Your Loved Ones
Only with proper estate planning can you be assured that your loved ones will not be subject to unexpected disasters at your deal due to lack of or failure to plan.
- Avoid Probate
The use of a properly drafted trust, if structured correctly, will avoid putting your loved ones through the expensive, lengthy, and emotionally draining court probate process.
- Protect Your Loved Ones in the Event of Your Incapacity
In the event of your incapacity, who will make decisions necessary to protect your loved ones? Only with proper estate planning can you be sure that your financial and personal affairs will be taken care of in the event of your inability to care for them yourself.
- Avoid Putting Your Loved Ones through Difficult Medical Decisions
With proper planning, you can make difficult medical decisions now, and spare your loved ones the pain of making those decisions later.
- Preserving Your Values Throughout Generations
The manner in which you leave your assets to your children and grandchildren is a way to pass on your values, helping to teach your financial responsibility and focusing on your priorities.
- Protect Your Loved Ones from Themselves
Inherited assets are often wasted and lost in short periods of time. Good planning can help loved ones learn new and good financial habits. You can also support loved ones without supporting addictions or bad habits.
- Protect Loved Ones from Their Creditors
You can protect your assets for your loved ones if they are sued, get a divorce, or need government support.
- Business Planning
Do you own your own business? Proper planning can help insure that the business lives on after your death.
- Charitable Planning
You can provide for any charities or other worthwhile causes, while at the same time potentially getting income and estate tax benefits.
- Estate Tax Benefits
You can prevent some or any of your assets from being subject to the estate tax upon your death. This will allow more of your estate to be enjoyed by your loved ones, and less to be lost to taxes.