Estate planning is an important legal process that everyone should implement. What can estate planning do? Estate planning allows you to choose who will get your assets; make important medical, financial, and guardian decisions ahead of time; and plan for challenging events in advance. If you want to have full control over your future, consult with a qualified estate planning attorney. Below are some answers to common estate planning facts.
- Everyone over the age of 18 should have an estate plan in place.
- Estate planning is not just for the rich!
- Most estate plans need to be changed and updated throughout your lifetime.
- Without an estate plan, your assets may be given to the “wrong” people.
- Without an estate plan, your children may not go to the guardian of your choice.
- While estate planning can be completed at any time, it is beneficial to start planning as soon as possible!
- Estate planning should be done with a qualified and experienced attorney in the field of estate planning.
- If you attempt to do your own estate planning, you could make serious errors that have an impact on your future!
- Having an estate plan in place can help to lessen estate taxes.
- With proper estate planning, you can help to provide for your loved ones after your death.
- Estate planning can lessen stress and tension during your family’s time of need.
- Estate planning lets you make important decisions ahead of time.
- Without proper estate planning, the assets that you leave to your children could be taken by outside threats and predators.
- Estate planning can allow you to appoint someone to help make important medical and financial decisions if you are unable to make those decisions for yourself.
If you have any further questions about estate planning or want to begin planning for your future, consult with an experienced and qualified estate planning attorney.
Timothy P. Murphy is an estate planning and elder law attorney whose practice emphasizes helping people to build, preserve and pass on their wealth. He works with his clients to accomplish their goals while avoiding unnecessary court proceedings and minimizing or eliminating exposure to death taxes.
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