Estate Planning Alone Won’t Always Accomplish Your Family and Financial Goals
When it comes to estate planning, do you have your ducks in a row? Even if you have all the proper documentation in place, you may be missing an important piece of the puzzle if you don’t have a wealth transfer plan.
Estate planning documents are the best way to ensure your assets are distributed according to your wishes when you die. When you pass away without a will or trust in place, state law will determine who receives your assets. Unfortunately, this may not be in accordance with what you would have preferred. When you record your wishes in a legal document, however, you get to choose exactly who benefits from your estate.
Another reason to have an estate plan is that, without one, your family will be left with some or all of the following: