Estate planning involves creating a plan to distribute one’s assets to desired beneficiaries, considering what one has, who they want to inherit it, and when. It can also involve minimizing tax liabilities in more complex estates. Without an estate plan, the state may impose a default plan that might not align with one’s wishes. Estate planning provides control over asset distribution, ensuring assets go where intended and providing peace of mind. It also reduces stress for loved ones by avoiding complicated probate processes.
If you’d like to start developing an estate plan contact one of our wills and estate planning attorneys today!