With the start of a new year, why not start the year off right and prepare your estate plan. Every adult should consider estate planning sooner, rather than later. Estate planning is an essential part of retirement planning, although a lot of people are not aware of what it encompasses. So they often put it off, until it is too late.
Estate Planning addresses these key issues:
1. Assurance that your assets go to the people you choose when you die;
2. Input as to how you want to be taken care of when you become incapacitated;
3. Should you become incapacitated, the only way to manage legal affairs without an Estate Plan is through the Probate Court, which can be expensive and time-consuming;
4. Minimizing or eliminating the needless loss of some or all of your assets should you need long-term care; and
5. Shielding family members and your estate from hefty tax burdens.
Estate planning does not have to be complicated or expensive. The advantages of a properly planned and organized estate are manifold; the disadvantages of not doing an estate plan are significant. Have a conversation with your family members about estate planning. Ask them if they have an estate plan, if not, suggest making an appointment with our experienced Elder Law Attorneys.
Once that appointment is made, the individual’s personal circumstances can be evaluated (financial, family, etc.), recommendations can be made, and the appropriate documents (Wills, Trusts, Powers of Attorneys, Deeds, etc.) can be prepared.
At Martha C. Brown & Associates we discuss the issues families could not possibly anticipate on their own. We can spot issues before they become problems. To discuss your estate planning needs, please contact our office at 314/962-0186.