You may not realize it, but estate planning is one of the most important things that any one person can do to prepare for the future. Dealing with your estate might seem like a distant goal, something far down the road that you will deal with eventually. It’s important not to put off making a comprehensive estate plan—if not for your sake, then for your family’s.
Dealing with the complications of an estate can seem overwhelming. But with the assistance of an attorney, you can accomplish it. In this post, we’ll go over some of the basics of estate planning.
What is an estate plan?
An estate plan is a legal document that describes how you would like your estate to be managed and dispersed after you are deceased.
What is an estate?
An estate consists of all the property you own by the time you die. An estate can include:
- Bank accounts
- Real estate
- Stocks and securities
- Life insurance policies
- Personal property
Why should I have an estate plan?
Having an estate plan can make the legal process of dealing with an estate simple and painless. An estate plan can:
- Identify the beneficiaries whom you would like to inherit your estate
- Disperse your property according to your wishes
- Minimize the taxes that your family will have to pay on your estate
- Speed up the legal process for your loved ones after you die
- Describe the medical care you would like to receive at the end of your life
- Prepare the funeral arrangements and deal with expenses
You can create an estate plan by contacting an experienced, skilled attorney in your area.
