Your estate is comprised of everything you own. Your home, car, real estate, bank accounts, life insurance, investments, and personal possessions. The question is what happens to your belongings after you die or become disabled and unable to attend to your affairs? If you don’t have an estate plan in place, then the state will make the decision for you. However, with proper estate planning, you can decide who gets what, when, and how and can ensure that your wishes will be cared for when you are unable to do so.
- Instructions for your care if you become disabled;
- Name a guardian and an inheritance manager for minor children;
- Provide for family members and friends;
- Provide for appropriate insurance in the event you become disabled; and
- Minimize taxes, court costs and unnecessary legal fees.