Why Estate Planning is Important

Having a comprehensive estate plan in place will help you feel more confident about the future and assure that your loved ones will be taken care of. It can help you achieve a variety of goals and objectives, including:

 

  • Providing support and financial stability for your spouse.

  • Preserving assets for future generations.

  • Supporting a favorite charity or other worthy cause.

  • Ensuring all of your assets, including those that pass by beneficiary designation (e.g., retirement accounts and life insurance policies), will be distributed according to your wishes.

  • Minimizing income, gift, and estate taxes.

  • Ensuring that individuals you choose can make decisions on your behalf in the event of your incapacity.

See also:

Naming a Guardian for Minor Children

How Property is Transferred at Death

When do I Need a Revocable Trust?

What is a QTIP Marital Trust?