There are few things as intimidating as the project of estate planning. The best time to plan for your incapacity or death, though, is while you’re still healthy. With a little time, effort, and guidance, you can develop a plan and obtain peace of mind. Failing to do so can place the security of your family and assets in jeopardy.

 

What is your estate?  Your estate is comprised of everything you own: your home, bank accounts, 401k, business holdings, investment accounts, etc. In addition to what you own, your estate must also consider your minor children and pets. It’s important to be thoughtful and strategic about how, when, and to whom your estate is divided and distributed.

 

Inaction can lead to the government taking over control of the distribution of your assets after you pass. This is known as intestacy. This intestacy process leaves your loved ones with few options and places your legacy in the hands of the government.

 

The Benefits of an Estate Plan: A well-prepared estate plan can ensure the safety and security of your family long after you have passed.