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.

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See also:

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Naming a Guardian for Minor Children

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How Property is Transferred at Death

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When do I Need a Revocable Trust?

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What is a QTIP Marital Trust?