Prepare Your Estate For Your Family
Estate planning is the process of anticipating and arranging for the disposal of an estate during your life.
Estate planning attempts to eliminate uncertainties over the administration of probate estate and maximize the value of the estate by reducing taxes and other expenses. Broadly speaking, an estate plan encompasses the accumulation, conservation, and distribution of an estate. A good plan will enhance and maintain the financial security of individuals and their families and other beneficiaries.
Nearly everyone has an “estate” for purposes of estate planning. Estates include personal residences, insurance, retirement accounts, personal possessions, and household goods. An estate plan also includes things such as who will care for children in the event both parents die, who will make financial decisions in the event an individual does not have the capacity to do so, and how doctors handle life-sustaining treatment.
There are certain documents you need to meet your estate-planning goals: