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| Estate Planning | ||
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Estate planning involves arranging for the transfer of your assets (property) in an orderly manner after your death. The goal of an estate plan is to minimizes taxes, expenses, and delays, and assure that your assets are reliably passed down to your heirs as you intended them to be. A common misconception is that an 'estate plan' is one document drawn up by an attorney. | |
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| When creating an estate plan, it is recommended to employ a professional for certain portions of the planning, although some of the actual process can be done by you. Depending on the person or persons and their situation and circumstances, it can range from being fairly simple to very detailed and complicated. | ||
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| Another misconception made about estate plans is that they are only
for the wealthy or the elderly. This is not true. Who can say what
is 'wealthy' or how long someone can live?
In addition, an Estate plan takes care of possible disasters occurring
during the life of the individual or couple. |
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