How Can An Estate Plan Work For Me?
An estate plan serves a number of functions:
Ensure the right person cares for your children in the event you are unable to do so yourself
Ensure your property is transferred to the persons of your choosing – not the state’s
Avoid probate or reduce administration costs
Ensure assets passed to children are used appropriately – for college, starting a business, etc. – not blown in one lump sum
Provide creditor and predator protection for loved ones
Prevent persons from receiving any of your assets
Make charitable contributions
Reduce estate taxes
Maintain privacy
Ensure the right person is making your health care decisions if you can’t do so yourself
Ensure your wishes are followed in end of life situations
Ensure your finances and business are handled by the right person if you can’t do so yourself
Transfer your business upon incapacity or death