Estate planning is an important task too often put off for another day. Unfortunately, if left unaddressed, your estate can incur higher probate costs because you have not appointed an executor or expressed in writing how to distribute your assets. To make sure that your estate is managed and distributed as you desire, it is important to develop an estate plan today.
WHAT GOES INTO ESTATE PLANNING?
Everyone’s estate planning needs will differ, depending on individual goals, assets owned, complexity of family relationships and estate tax planning needs. It may be as straightforward as preparing a will or more involved as creating a trust to minimize estate tax or care for a minor child. The bottom line is that you should talk to a professional estate planner so you are better equipped to make the important decisions that go in to developing an estate plan.
“To make sure that your estate is managed and distributed as you desire, it is important to develop an estate plan today.”
When you contact Brunsdon Law Firm you will speak with a professional estate planner. Our team of estate planning attorneys have the legal and tax experience to help guide you in completing an estate plan that works for you.
WHAT IS IN AN ESTATE PLAN?
Depending on your goals, family concerns and assets, an estate plan can include any number of documents, including:
- Will – The will forms the basis for any estate plan. It sets forth your wishes on many details such as who will inherit from your estate, who will be left in charge of managing your estate until it is fully distributed and how to pay funeral costs, debts and taxes from your estate.
- Trust – A trust can be incorporated into your will or can be drafted as a stand-alone document. It can be very effective tool for estate tax planning and also effective for planning to care for any minor children or children of a prior marriage.
- Durable Power of Attorney – This document is for appointing a trusted person to act on your behalf concerning financial affairs. It can be designed to be effective immediately or to spring into effect should something occur where you cannot act for yourself.
- Advanced Health Care Directives – A Durable Power of Attorney for Health Care and Living Will assures that your healthcare wishes will be followed in the event you are unable to communicate those wishes.
You can begin your estate plan today by calling 330.374.1166 to arrange an appointment. You can also arrange an appointment by emailing info@brunsdonlaw.com. To protect your confidentiality, please do not email any details that are specific to your matter.
