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Estate Planning
Even if you have a will, your estate will have to go through probate. Probate records are a matter of public record which means everyone knows what your heirs are receiving.
Guardians of your minor children are decided by the state, not by you. If you are incapacitated, the court appoints someone to make decisions for you.
Probate proceeding can take an average of 14 months in which your assets are unavailable to your heirs. Costs for probate including fees, court costs and attorney's fees can eat up as much as 60% of your estate.
Estate planning essentially refers to the area of analyzing an estate owner's financial affairs and developing a plan for how the owner's objectives can best be met.
Estate planning is a process in which individuals attempt to maximize their wealth during their lifetime and pass the largest amount of assets possible to their heirs, or whomever you wish (i.e. charity) upon death with as little hassle as possible. The biggest obstacle to overcome in order to accomplish this goal is our beloved federal and state taxing authorities. Estate taxes can be as high as 55% to 60%. Obviously, if this is not properly dealt with, it can absolutely destroy your estate. Remember, if you fail to plan, you plan to fail.
The following list of links provide information or services relating to estate planning.
If you find any of the links listed in our directory unrelated, offensive or unavailable please contact us so we can resolve the issue.
