REASONS FOR ESTATE planning
1. Preserve and Grow Family Wealth – with a plan in place you can continue to preserve and grow your assets securing your wealth for the long term and providing a legacy for your heirs.
2. Determine Who Inherits Your Assets - if you don't designate your heirs and provide distribution instructions in a Will or Trust, you won't have control over what happens to your assets. This often leaves probate courts to decide.
3. Protect Your Young Children - in the event you die and have minor children, you will want to name guardians for your minor children to ensure they are cared for by someone of your choosing. You may also want to set up a fund to provide for their higher education and other needs.
4. Plan for Taxes - during wealth preservation and growth, as well as during the transfer of assets upon death.
5. Eliminate Stress and Messes - putting your affairs in order through estate planning lets your loved ones know your wishes, which can help when disagreements arise among family members. It also ensures that assets are handled in a way that addresses family needs.
6. Leave a Lasting Legacy – create a positive impact on future generations who come after you.
If you have additional questions regarding the reasons for estate planning, please feel free to contact our professionals (or team members).
This content is intended to be used as a source for general information and is not provided as legal advice.