Estate planning is the thoughtful and proactive process of taking control of your legacy by ensuring that you and your loved ones are provided for, directing what you want to leave and to whom, minimizing unnecessary taxes and legal costs, and supporting the causes that matter to you.
Estate Planning Is The Process By Which A Person Can:
- Provide for themselves and their loved ones
- Leave what they want to whom they want
- Minimize taxes and avoid unnecessary fees and court costs
- Care for themselves and their loved ones
- Support the causes they care about
Typically, a basic estate plan will include:
- A valid and legally enforceable will that names your heirs
- A revocable living trust, which enables your family to avoid probate as well as guides asset management and decision-making if you become incapacitated during your lifetime
- Powers of attorney for financial management and health care decision-making in case you are unable to handle these yourself at some point
- Nomination of guardians for minor children
If you cannot manage your own finances, who is going to ensure you and your minor child have adequate resources?
If you cannot physically care for your minor child, who will care for the child?
