Estate Planning Is for Everyone

Estate planning is important for everyone, not just retirees or the wealthy. While people may think about it more as they age, the reality is that we can’t predict our lifespan and unexpected events can happen at any age.

For families with modest assets, good estate planning can have an even greater impact as the consequences of poor planning can be more detrimental to their financial well-being.

Do You Have An Estate?

Nearly everyone has an estate. Your estate includes everything you own such as your car, home, real estate, bank accounts, investments, life insurance, furniture and personal possessions.

When you pass away, you’ll likely want to have control over how your assets are distributed to the people or organizations you care about. To ensure your wishes are followed, it’s important to provide instructions on who should receive your assets, what they should receive and when they should receive it.

Estate planning involves making these plans in advance and taking steps to minimize taxes, legal fees and court costs. By planning now, you can make the process easier for your loved ones later.

Premium Package

• Last Will & Testament

• Childern’s Trust

• Durable Financial Power of Attorney

• Healthcare Surrogate Desigination

• HIPPA Authorization

• Advance Directive

• Living Will

• Pet Trust

• Revocable Living Trust

• Probate Avoidance

• LifeVault Cloud Storage

• Spouse Plan included

Will or Living Trust?

A will and a trust are both legal documents used for estate planning, but they serve different purposes and operate differently. A will is a legal document that outlines how you want your assets distributed after your death. It only takes effect after you die and must go through a court process called probate to ensure that your wishes are carried out.

A trust, on the other hand, is a legal arrangement where a trustee holds and manages assets for the benefit of one or more beneficiaries. Unlike a will, a trust can take effect immediately upon its creation and can be used to manage assets both during your lifetime and after your death.

Trusts can also help avoid probate, which can save time and money for your heirs.

In summary, the main difference between a will and a trust is the timing of when they take effect and how they operate. A will takes effect after you die and must go through probate, while a trust can take effect immediately and can help avoid probate.