Do I Need an Estate Plan? Why Is Estate Planning Important?

Estate planning is not one of American’s top priorities. 64% of Americans have not had a will prepared. Half of those surveyed either feel they do not need a will or they just have not found the time to make one.

You may be asking yourself, “Who needs estate planning? Do I need estate planning? If so, do I need an estate planning attorney?” 

Why is estate planning important? 

If you want your estate to end up with your loved ones after you are gone, you will want to explore various types of estate plans. Is a living trust the way to go? Or a last will and testament? 

Let’s look at some of the reasons why estate planning is important and then you can choose the right path for you. 

Why is Estate Planning Important? 

Estate planning is a term used to describe the act of making a will, choosing an executor and/or preparing other important documents such as a health care proxy and power of attorney.

Though you may not have a million-dollar estate, you will still want to have a say in what happens to it when you die. 

Consider these reasons for estate planning. 

1. Estate Planning Can Reduce or Eliminate Estate Taxes

If you are asking yourself, “Why do I need an estate plan?”, eliminating the need for paying additional taxes may be a top reason.

You have worked hard for what you have and finding the most tax-efficient way to transfer it to your children or another beneficiary is the smart thing to do. It can be a complicated process, however.

If you are asking yourself another question like, “What is an estate planner?”, you will find that you need one. An estate planner is a professional who helps you sort out all of the complicated tax laws and works to create the best plan for turning over your estate after you pass. 

2. Not Having an Estate Plan Can Cause Family Chaos

You know it happens…a family member dies and the fighting over the estate begins. One child or grandchild may think they deserve to be in charge, one may think they deserve more money, one may want all the jewelry, etc. 

An estate plan allows you to choose an executor of the estate in the event that you become incapacitated or after you die. It also allows you to explicitly state to whom you would like your assets to go. It will eliminate family quarrels if everything is spelled out for them. 

3. Peace of Mind for Families with Young Children

None of us want to think about dying and leaving behind young children, but don’t you want to be prepared in the event that it happens? 

Creating a will and naming guardians for your children will prevent the need for the court to intervene.

You can specify who will raise your children and the manner in which you would like them to be raised. You can also rest assured that your assets are transferred to them either in a trust or for their care as they grow. 

Got An Estate Plan? 

You have just learned a few of the reasons that answer the question, “Why is estate planning important?” We at Indigo Family Law can help you with estate planning and answer any questions you may have. Contact us today. 

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Understanding Legal Incapacity and How It Is Determined

Most of us take our independence for granted. 

Whether it is being able to bathe ourselves, drive ourselves to the grocery store, or sign an important document, most of us do these things without even thinking. It comes naturally to us. However, what if these abilities were taken away from us?

These abilities can be taken away due to things like dementia, mental illness, or physical disabilities. Your independence would be compromised and someone would have to assist you in daily tasks and decision making. 

It is important to understand legal incapacity and what it brings. Make sure to keep reading to find out more. 

What Is Legal Incapacitation?

Before looking at what comes along with legal incapacitation, it is first important to understand the definition of incapacity. 

Being incapacitated means a person is no longer able to care for themselves or their affairs. It could be for a permanent or short period of time, and it can extend to affairs such as property, financial, and legal management. 

What Leads to It?

There are many causes that could call for incapacity, one of the largest causes being the dementia epidemic. Dementia causes severe memory loss, confusion, concentration issues, and the decreasing ability to perform tasks independently. 

Severe physical injury, slipping into a coma, certain mental illnesses, birth defects, intellectual hindrances, and old age can also call for legal incapacity. 

What Is Next?

Obviously, legal incapacity will frustrate anyone. It is difficult to hand over responsibility and independence due to something you may have never seen coming. No one likes handing over their ability to manage finances or legal matters.

The decision to declare someone as legally incapacitated is determined by a court. A medical team will submit opinions on the individual in question after a series of tests and evaluations. The court will then look over these opinions.

It is possible for a family member or the individual to challenge the decision. If someone does challenge it, typically, the court will bring in a psychologist. 

Once someone is officially declared legally incapacitated, whoever takes legal responsibility of the individual will then step in as the decision-maker for things such as property and money. Typically caretakers are family members because it is important to keep things like finances in the family. 

Can It Be Reversed? 

Is being declared as legally incapacitated permanent?

It is not permanent in cases such as coming out of a coma or where the condition improves. Once the person is cured and/or fully responsive, the court can reverse the order if the individual shows they are capable of taking responsibility. 

Understanding Legal Incapacity

Unfortunately, sicknesses and circumstances can occur to an individual that leads to legal incapacity. To dig in a little deeper on this, make sure to read above. 

Someone who is incapacitated is not physically and/or mentally able to handle legal and financial matters on their own and may not even be able to complete daily tasks on their own. Another individual will have to claim responsibility. Under certain circumstances, it is reversible. 

If you are in need of legal services concerning estate or family matters, make sure you check out the rest of our site and contact us. 

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Special Needs Trusts are Always Available to those Who Need them

There are a million different things that a special needs parent or caregiver worries about each day. The most common question faced by special needs parents and caregivers is, “What will happen to them if I am not here?”

Today, 72 percent of parents and caregivers have not named a trustee for their child. Many have not even formally planned their future care or guardianship.

Starting a special needs trust has many benefits for parents and caregivers. Here is everything you need to know about a special needs trust.

What is a Special Needs Trust?

A special needs trust is a rollover of money for a special needs child or individual.

In 2016, President Obama signed the 21st Century Cures Act.  This changed the wording to existing laws about special needs trusts.

This empowered special needs children and adults to get funding through a trust. That funding would be on top of any existing social assistance they were already on.

With this trust, an individual can get their public help, and their extra money too. This is true even if they get an inheritance or life insurance payment after you are gone.

Knowing an attorney can help you protect yourself and your child in the case of divorce or another kind of loss will help you both sleep better at night.

What Kind of Trusts Are There?

There are several kinds of special needs trusts. The most common ones are self-settled trusts and pooled trust.

In a self-settled trust, the individual creates the trust themselves from their own money. If it is a minor, a parent or caregiver must establish the trust, and determine when the child can access it.

A South Carolina probate court must approve that. The 21st Century Cures Act says that those that are no longer minors can do their own trust without a court’s approval.

A pooled trust typically occurs when the individual is over 65 and establishes the trust on their own.

Key Benefit of Special Needs Trusts

There are multiple benefits of special needs trusts.  The greatest benefits are a peace of mind and fewer sleepless nights. 

When you put a trustee in place, you have one less job to do.  This gives you more respite, or break time, in your daily life. This supports not only you, but it also supports your child or special needs individuals in establishing their own line of financial independence.

Asset Protection

An adult individual with special needs will probably be on public assistance at some point. You may name them as your beneficiary on life insurance or estate planning.

Having a special needs trust is better, as this will protect those assets when the time comes. Sometimes, they could be cut off of public funding if they get a large inheritance or estate gift.

Many special needs parents say the benefits of a special needs trust will outweigh the risks or initial investment. You want an expert to help you with this.

Explore Personalized Strategies

Many special needs adults cannot work. These are the families with the highest poverty rates. By setting up a special needs trust, you are protecting their future. 

Do you have questions about setting up a trust? Contact Indigo Family Law and set up a consultation where we can explore your options.

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How to Make an Estate Plan: The Ultimate Estate Planning Checklist

The word estate refers to the whole of an individual’s interest in a set of property including land and other assets, such as stocks and retirement accounts. 

Every person has an estate to some extent, though some are larger and more valuable than others. When a person dies, this property must get divided amongst their heirs, or to some other pre-designated party. 

Dying without an estate plan can be a troubling circumstance for your surviving loved ones. This is why now is the time you should concern yourself with estate planning. 

Keep your family protected after you leave this world. Read this estate planning checklist to get yourself started. 

Take a Survey of Your Assets 

The first thing you should do is think about the assets you have. Before you can draft a will, you will need to know what to include. 

The first obvious asset you should consider will be your home if you own one. You may also consider any cars, boats, art, and jewelry. 

Do not forget any intangible assets, such as retirement accounts, stocks, and savings accounts.  Feel free to reach out to us to figure out where to get started on your asset inventory.

Talk to a Lawyer 

If you have a sizeable estate, you will want to consult an estate planning attorney. They will be able to advise you on the best course of action. 

An attorney will also make sure your estate plan covers all possible bases. 

Make a Will 

Your last will and testament may be the most important document in your estate planning efforts.

It gives you the power to decide how to divide your assets following your death. It also allows you to decide what happens to your minor children if something were to happen to you, even if you were to live but be incapacitated. 

In your will, you will name an executor who carries out your affairs as defined in your will. 

Consider a Trust 

A trust can have several benefits in your estate planning efforts. You can transfer some or all your assets into a trust, which goes to the control of a trustee. 

The trustee must manage the assets according to your wishes. 

If you have a large estate, a trust can protect your estate from taxes following your death. 

Update Beneficiaries 

The beneficiary named on an account will receive the account upon your death. Take the time to review and update your beneficiary designations. 

Plan for Debts 

Some people die with debts left behind. Consider any outstanding debts you might have upon your death. 

How will your estate pay for them? 

Some of these debts may fall to your insurance plans, including home, auto, and life insurance. 

Consider how your family will cover your funeral expenses. 

Your Estate Planning Checklist 

There is no doubt one day you will move on from this life. There is nothing to be afraid of, but you should prepare your estate for the next step.

This estate planning checklist should give you an idea about where to start. Some estates may require more intensive planning than others. 

Be sure to speak with an experienced attorney. To find out how we at Indigo Family Law can help, click here. 

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3 Most Common Estate Planning Strategies

Estate planning…something we should all do, but most of us put it off. 

Do you think about your estate planning options?

60% of Americans have not gotten around to planning for the end of life. Though, the good news is that 81% of older folks, age 72 and up, have their estate planning documents in order. 

While many people think they are too young to worry about planning for what happens to their estate after their gone, it is beneficial to plan early. 

What will happen to your home, your stocks and bonds, your life insurance, and your personal belongings? 

Estate planning is different for each individual. What are the most common estate planning strategies used in 2019? Let’s look at three plans that are often used and see which one fits for you.  

The 3 Most Common Estate Planning Strategies

Having a plan for your estate and choosing your estate beneficiaries will give you peace of mind. Estate planning will ensure that your estate ends up where you want it after you are gone. 

Revocable Living Trust

A Revocable Living Trust is a popular estate planning strategy. It is called a living trust because you create it and benefit from it during your lifetime.

If your circumstances take a different direction at some point, no worries. The trust is revocable as it can be changed if you change your mind about anything or anyone named in the trust.

The living trust contains instructions regarding what happens to your assets after you pass. It also preserves your privacy. 

It differs from a will in that it avoids probate or the court handling of your estate. The court will not control your assets, so you will avoid expensive court costs and save time. 

This strategy can help you eliminate or at least lessen estate taxes by using credit shelter provisions. 

Last Will and Testament

In your last will and testament, you will name your estate beneficiary. It is a legally binding document that allows you, rather than the state, to decide what happens to your assets. 

If you have minor children at the time of your death, your will also names who will receive guardianship of your children. 

A will goes through probate and cannot be enforced until it is validated by the court. 

Beneficiary Designation

In this scenario, you choose a beneficiary to receive proceeds from your trust, life insurance, or IRA, for example, upon your death.

Two types of beneficiaries exist:

  • Primary – first in line to receive the asset for which they are named a beneficiary
  • Secondary – will receive the assets if the primary beneficiary is deceased at the time of your death

You should periodically review your designated beneficiaries as you experience life changes such as getting married or having a child.  

Which Strategy Will Work Best for Your Circumstances?

You have now learned the most popular estate planning strategies. Do your homework and get some advice on the best strategy for you and your circumstances.

Contact us with any questions you have or to schedule a consultation. 

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How to Find an Estate Planning Attorney: A Step-by-Step Guide

Knowing how to find an estate attorney is a lot like knowing whether somebody is trustworthy or not. It requires you to have a keen sense of character and to be able to tell whether someone will be there when you need them.

In the worst of cases, you are not going to be able to tell if your estate attorney has done does their job or not, after all – it will be your heirs, your family & children who will need to work with them.  

Estate attorneys ensure, through planning, that a person’s assets, debts, and property are taken care of after they pass away.  In short, they are responsible for making sure everything you want to be passed down is passed down correctly. Most of all, they help you to make sure your last wishes are followed exactly as you wanted.

Keep reading below to learn how to find an estate lawyer you can trust!

Ask for Referrals

The best way to find someone worth hiring to handle your final wishes is to ask around. Almost everybody should have an estate lawyer, and chances are that the people around you have done their research on theirs. Simply ask them who they went with and look into the lawyer yourself!

Asking Other Professionals May Get Better Results

Nobody knows professionals like other professionals. They tend to have a keen sense of who to trust, and the quality of other peoples’ work. When you first start looking for an estate lawyer, you could try to get referrals from other kinds of lawyers.

A personal injury lawyer or a corporate lawyer likely will not have much particular interest at stake in giving you a fair assessment of an estate lawyer’s office. Check your network. You might be able to get both an honest opinion and a skillful evaluation of estate lawyers just by asking other lawyers about them.

Community Referrals Guarantee They Are Trustworthy

You are a part of your community, and you should take advantage of it. Talk to the people who know you about your search for an estate lawyer. There is a lot of people that end up using or needing an estate planning lawyer at some point in their life, and if someone already hired an estate lawyer they trust, it is at least possible that you will be able to develop a positive relationship with that lawyer too.

Research How to Find an Estate Lawyer Online

In addition to flexing your network, you may also wish to research estate lawyers online. Most law firms have reviews from actual clients either on their website or on their Google page. These reviews are usually from clients who felt compelled enough, positively or negatively, to share their experiences.

Read up on different law firms, including what they specialize in and what they are known for. That way, you will get a sense of how each law office is different and what you need from the one you go with. 

Besides using your favorite search engines (Google, Bing, Yahoo), you can also use websites like NOLO, FindLaw, and AVVO. These websites specialize in finding lawyers based on location and specialty. They also contain contact info and reviews for each law firm.

**Bonus, if they have a blog, like ours, you will be well-read on what goes into estate law too!

You Need an Estate Lawyer that You Can Trust

Knowing how to find an estate attorney is a lot like knowing how to trust a person. You need to talk to them and get a sense of their character. You also need to see examples of how they manage their work, and whether people tend to be satisfied with it.

You can reach out to us to schedule a time to speak about what you are looking for in an estate lawyer. We understand how important family is and will work to make sure everyone in it is taken care of when you are not here to do it yourself.

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Four Types of Wills to Choose From For Your Estate Plan

Besides your birth certificate and marriage license, your last will and testament is one of the most important documents you will ever own.

Did you know there is more than one type of will to choose from?

Depending on how many assets you own and the nature of your family, you may need multiple wills and trust documents when planning your estate.

While this is not an exhaustive list, here are the four most often used types of wills. Keep reading to learn more about choosing the right will for you.

Simple Will

As the name implies, this will is a straightforward document spelling out what to do with the assets of your estate after your death.

Wills need to be typed out, not handwritten. They should have the date they are signed rather than the day they are written out.

If you have a relatively small and easy to handle collection of assets, a simple will does the job just fine. It is still smart to hire an attorney to save you from mistakes with unforeseen legal consequences for your family.

Joint Will

Joint wills are for married couples who want to leave all their assets to their surviving spouse.

It is important for each spouse to have their own estate planning documents. But a joint will makes sure the living spouse inherits everything from the partner who passes away first. It also specifies what will happen to the total of both assets once the remaining spouse has passed on.

Writing up this kind of will is an excellent opportunity for you and your spouse to inventory everything you both own so nothing falls through the cracks. You will have the chance to work together to make sure both your wishes are met and your family is well prepared for the future.

Testamentary Trust Will

This will specifies exactly which of your assets will be given to the trust you have made for each beneficiary.

In other words, a testamentary trust will is the most efficient way to make sure your loved ones get their inheritance from you with no hiccups. This type of will protects your assets and reduces inheritance income taxes for your beneficiaries. 

Living Will

A living will is only effective while you are alive and does not decide ownership of your assets after death.

This will gives detailed instructions regarding what medical procedures you are and are not comfortable with, in the event that you cannot give consent yourself. Say, for example, you fall into a coma or become too sick to stay coherent—your living will gives the person with medical power of attorney a set of directions.

More About Different Types of Wills

You do not need to be rich to start planning your estate. Writing up your will is a great first step.

Planning your estate is a process and will not happen overnight. Think about choosing someone to have power of attorney over your finances and medical needs in addition to writing up a will with your attorney.

For more information about even more types of wills, contact one of our skilled legacy lawyers for a consultation today.

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7 Reasons to Consider a Living Trust

A valid will is not enough to ensure the security and timely distribution of your assets in accordance with your wishes when you die.  You should consider establishing a living trust in addition to your will.

The larger the value of your estate, the greater the need to create a living trust and ensure the transfer of your significant assets into it while you are still alive.

Read on to find out more about the seven reasons to consider a living trust that will protect your estate and save your heirs time and money.

But, first…

What Is a Living Trust?

A living trust is a legal, enforceable document that holds property transferred by the Grantor (aka the Trustor, which is the person or persons who created the trust) for the benefit of others (the beneficiaries) and managed by the Trustee.

It is called a “living” trust because it is established while the Grantor (Trustor) is still alive. It can be designated as either revocable or irrevocable. A revocable trust can be revoked or amended by the Grantor, who signs the trust document. 

Let’s say you have decided that a living trust is well worth the extra time and expense of setting it up (it is more complex than just making out your last will). You need professional advice in order to get it done right. Learn more here.

The primary purpose of a living trust is to manage your assets during your lifetime and to enable this property to be distributed to your beneficiaries (e.g., surviving spouse or children) easily, without having to go through probate.

What Are the Benefits of a Living Trust?

There are several reasons to have a living trust created, but it is not needed in every case. For a young married couple with few assets and no children, just having a will may be good enough. 

But, for situations where assets have been accumulated and you want to ensure timely and orderly distribution to your beneficiaries upon your death, read on.

Avoid Probate

One of the biggest reasons to have a living trust is to avoid probate.  Probate is a legal mechanism by which the decedent’s estate gets settled under the supervision of the court, or judicial authority.  Unless there is a living trust set up!

The purpose of probate is to prevent fraud after someone’s death. The court must determine the validity of the will, that all pertinent people have been notified, that all property has been identified and appraised, and that all creditors and taxes have been paid.   

Only after all that has been done will the court allow distribution of assets and closing of the estate. Until then, it is a waiting game for the beneficiaries.

Once you die, South Carolina law requires that your will is to be delivered to the Probate Court within thirty (30) days — unless you have a living trust. 

The key to avoiding probate is to ensure that the trust is “funded” before you pass away. You must transfer ownership (separate paperwork) of all your significant property, cash, stocks, and bonds to the trust — to be administered by the Trustee. 

South Carolina has a “small estate” limit of $25,000. There is simplified probate (called an out-of-court affidavit procedure)  available in South Carolina:

  • If the value of property passing by will or under the law — except for liens and encumbrances — is $25,000 or less, a probate judge may approve the affidavit
  • There is a 30-day waiting period

Decreased Estate Taxes

If you are married, the trust can provide for estate tax savings, especially if it is a joint living trust. Of course, much of the savings depend on the value of your estate at the time of your death. 

Also, any costs associated with the probate process are deducted from the estate. So are any court costs associated with contesting a will. Those costs could be avoided if a living trust is legally and properly established and funded.

Greater Privacy for Your Beneficiaries

A will is a public document and all probate proceedings associated with that will become a matter of public record (including listing your assets). A living trust is a private document and distribution of your estate upon your death is private, too.

Protects Your Interests during Your Lifetime

Once your living trust has been created and funded, if you later become incapacitated, the successor trustee you designated will be able to manage the trust assets for your benefit — without any court intervention.

This is a big benefit for people who are single or those who do not have children. The living trust arrangement ensures that you are provided for during your lifetime even if you cannot make decisions for yourself.

This is important, though. As long as it is set up as a revocable living trust, if you dispute the determination of your incapacity, you can revoke the trust and retain control yourself.

Protects Your Minor Children

Minor children are often not responsible enough to manage large sums of money themselves. The trust can be set up to disperse money to children when they get older and more mature, or even to distribute funds staggered over a range of ages.

Protects Your Adult Children

Some adult children may never be able to manage an inheritance on their own, maybe due to a substance abuse problem or just because they are frivolous with money management. The trustee can dispense funds as needed over time.

Keeps Your Assets Out of Unwanted Hands

Say you have a child who is marrying a person you do not care for. What if they were to divorce? You do not want half of your assets winding up with your child’s ex-spouse.  

These Are Great Reasons to Consider a Living Trust

At Indigo Family Law, we are experienced at creating living trusts. Our team can help you go through the complexities of getting one in place to benefit you and your heirs. 

Now that you know why you should consider a living trust, contact us today and let us help you get all your questions answered.

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Facts You May Not Have Known About Estate Taxes

Thinking about passing on your estate to your children or grandchildren? 

You best cross your “t”s and dot your “i”s.

If you are thinking about passing on your estate, you have probably heard rumors about taxes. But what do they mean for you and your family? 

Here, we will dive into 5 fascinating facts about estate taxes so you have a better idea of what to expect. 

South Carolina Is an Ideal State to Pass Away In

Estate taxes vary from state to state. Some states enforce estate taxes, although the amounts change. Others do not enforce them at all. 

South Carolina is one of the states that does not impose either estate or inheritance taxes. Prior to 2005, the state had a “sponge tax” which took a portion of estate taxes given to the federal government. 

Now, however, the state does not impose any “death” tax. 

Other citizens are not so lucky and must pay careful attention to tax laws. Regardless of how carefully individuals have drawn up a will, inheritors may face stiff taxes depending upon location. 

Estate Taxes Do Not Apply to Most Americans

Put your fears to bed: the estate tax does not affect most Americans. In fact, you must be in the wealthiest tier of citizens to experience the tax. 

Prior to 2017, only 2 in 1,000 estates faced a tax. That number fell to 1 in 1,000 after exemptions doubled.

More than likely, the estate tax will not affect you or your family. Of course, that does not mean you should not partake in estate planning. 

Many Families Might Be Shocked in 2025

In 2025, exemption rates will drop to half what they are now, affecting estates worth approximately $5.5 million per individual.

Because the rates increased recently, many families assume the tax will not ever apply to them. The change may come as a nasty shock to many. 

This, again, is why estate planning is so important. Changes in tax laws mean individuals should update wills regularly, otherwise they may find themselves in a similar situation as actor Philip Seymour Hoffman’s family. 

Hoffman left his estate to his only child at the time he drafted his will but failed to update it after tax laws changed and he had additional children. Consequently, his wife and remaining children suffered. 

Other Countries Tax More

America has an estate tax rate at 40%. Does that sound steep? Not compared to some other countries. 

Japan has the highest rate of all at 55%. South Korea follows with 50% and France comes in third with 45%. 

America falls fourth in line when determining which countries have the highest estate taxes.

It Is Nothing New

The estate tax has existed for centuries. In fact, it was common during the medieval era. 

During this period, kings demanded payment in the forms of “reliefs” from heirs who received property. It was from this notion that many European countries created the idea of inheritance and estate taxes. 

Protect Your Family’s Future

Estate taxes may not concern you. However, it is important to understand the changing laws regarding wills, property and more so that your family is secure. 

Changes in your personal life as well as in the government may have unforeseen results, which is why our professionals are available to help. We will ensure your family is protected from these changes, and we will work to create an estate plan that reflects your legacy. 

Call us today to discuss strategies and to secure your family’s future.  

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5 Facts to Help You Understanding the Importance of Estate Planning

5 Facts to Help You Understanding the Importance of Estate Planning.

When is the last time you stayed in a castle?

That is the first thing you picture when someone starts talking about their estate, right?

It would be nice if we all had several million dollars and a boat to leave for each of our kids. But you do not need to be on a first-name basis with Bill Gates to start deciding what to do with your assets in the event of your death.

We have put together these five important facts to help you understand estate planning. Life is unpredictable, and you do not want to leave your family unprepared.

Keep reading to learn more.

You Have an Estate Even if You Rent

Your estate is everything you own and all the financial information attached to your name.

The word “estate” usually sends people daydreaming about mansions and golf courses. But if you own a car and have a bank account, those count as part of your estate, legally speaking.

Even if you are still working your way out of debt and renting an apartment, everyone has an estate worth planning.

Your Will is Just the Beginning

Estate planning is a detailed process that takes time. It is not just one document, and there is so much more to plan besides which kid gets your novelty coin collection.

Planning an estate typically includes:

  • Assigning financial power of attorney
  • Assigning medical power of attorney
  • Creating advance directives for your healthcare
  • Putting aside money for funeral expenses
  • Creating a living trust

Do not stress! Start slowly with a will, and keep scheduling the time to add more as you keep thinking about what you want.

If You Do not Decide, Uncle Sam Will

Anyone who dies without a will or any kind of estate planning leaves the future of all of their assets to the state government.

This does not mean the state government takes everything you have. But it does mean you have no way of knowing which relatives will get what.

It is Not as Expensive as You Think

You do not have to spend a fortune to plan your estate.

Though there are legal fees involved with filing these documents, paying ahead of time reduces expenses for your family after your death. While you are spacing out appointments to estate plan with your family lawyer, you will have time to save up for these fees.

You Are Never Too Young to Start

Estate planning is not just for AARP members.

Because estate planning is a process, the sooner you start, the better. And while death is not a light-hearted subject, it is still a significant financial event you need to be prepared for.

Think of it as investing in your future and investing in your family. The sooner you start the estate planning process, the more time you will have to figure out every last detail.

Still Do Not Understand Estate Planning?

For even more information to help you understand estate planning, check out more from our blog.

Better yet, do not wait.

Schedule a consultation with one of our skilled estate lawyers today.

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