For your estate plan to be as effective as possible, you need to plan carefully. Its important to consider your own individual needs and goals so that youre using the right tools and documents. Its also recommended that you work with an estate planning attorney so that you get the best advice and results (i.e. so your plan actually works.) Take a look at the following information to learn more. If you have any questions, of if youd like to create your estate plan, contact an estate planning attorney.
Even a simple estate plan involves more than just a simple will. Many people assume that by creating a will, theyre set for the future. While this is a will that has a number of benefits, its not the only document you need. If you have only created a will in the past, it is time to consider your other planning needs.
Are you looking to plan for disability? Do you wish to protect the assets you pass to your beneficiaries so theyre not taken in divorce, bankruptcy, or lawsuit? Do you want to avoid court interference? Do you want to have full control over your assets during your lifetime? Do you want to lessen the burden on your family? Do you want to avoid being hooked up to life support machines? Are you looking for a way to prepare for future college, long term care, and retirement expenses? All of these needs can be met with the use of the right planning tools.
Even if you already have an estate plan in place, you will need to make changes throughout your lifetime as your needs change, the laws change, and your attorneys experience changes.
If you have any questions about your current estate plan or if youd like to get started with your planning affairs, consult with a qualified estate planning attorney.