Hi, I’m Paul.
Many people think that estate plans are for someone else, but not them. They may rationalize that they are too young or don’t have enough money to reap the tax benefits of a plan. Yet as the following list makes clear, estate planning is for everyone, regardless of age or net worth.
If you have questions about estate planning, I’m here to help. There is no commitment and we provide free initial 15-minute phone calls. We look forward to meeting you!
Loss of Capacity
What if you become incompetent and unable to manage your own affairs? Without a plan, the courts will select the person to manage your affairs. With a plan, you pick that person (through a Power of Attorney or a Living Trust).
Minor Children
Dying Without a Will
Who will inherit your assets? Without a plan, your assets pass to your heirs according to your state’s laws of intestacy (dying without a will). Your family members (and perhaps not the ones you would choose) will receive your assets without the benefit of your direction or of trust protection. With a plan, you decide who gets your assets, and when and how they receive them.
Blended Families
Children with Special Needs
Keeping Assets in the Family
Financial Security
Retirement Accounts
Do you have an IRA or similar retirement account? Without a plan, your designated beneficiary for the retirement account funds may not reflect your current wishes and may result in burdensome tax consequences for your heirs (although the rules regarding the designation of a beneficiary have been eased considerably). With a plan, you can choose the optimal beneficiary.
Business Ownership
Avoiding Probate
