Protect Your Family: The Top Reasons To Create An Estate Plan

Avoid Probate

One of the main reasons you should invest in the creation of an estate plan is to avoid probate. Even if you have never had to deal with probate in the past, you likely know that avoiding it is a top priority.

Plan for Your Needs

Another common misconception about estate planning is that it is only something that is going to be relevant when you (or the person in question) passes away. What you may not realize is that if you put it in place now, it can help to protect you, along with your assets, if you are ever incapacitated or if you are unable to make your own decisions.

Reduce Estate Taxes

One of the biggest potential blows to your estate is having to pay federal or state taxes or inheritance taxes. This is another reason so many people opt to have an estate plan created. With basic planning, you may be able to reduce and even eliminate the taxes on your estate.

Dictate What Happens To Your Assets and Wealth

If there is no type of documentation in place when you pass away, such as a living trust or a will, then the state where you live is going to determine how your assets are distributed once you pass away. Having the necessary documentation in place can help to save your family both frustration and time and will help to make sure that your assets and your wealth are dispersed how you desire.



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