FAQ’s Of Estate Planning
Uncertainty in life is common. How many of us are comfortable when we have no idea what is going to happen in our life from day to day? How many of us are willing to save for our future if we aren’t sure those savings are still going to be there? We have a number of people who call void of all estate planning thinking that they do not own enough assets. We are here to inform you otherwise!
Q. What happens without an estate plan when someone dies?
A. The estate is placed into probate when a person dies intestate, which is a special court with judges trained in the speciality of Wills, Estate and Trust Law. What happens next is anybodys guess excpet that the estate will likely owe taxes. Propertly titled property and planning can avoid this. We have seen people with horrible estate plans and mistitled property. We have also seen people with “old’ estate plans that need to become current with the IRS tax code and the allowances of the law.
Q. What is an estate plan?
A. An estate plan is a chomprehensive document including all the assets of the estate into a coordinated inheritance except any assets that might be seperated by a “pour over will.”
Q. Does it require a specialist, attorney or practitioner to create an estate plan?
A. We are going to say “yes” to that because if you do it wrong, there is no validity.
Q. Is an estate plan expensive?
A. This is a typical legal answer, “it depends.” It depends on what work has to be completed to place your assets in security, in tax compliance and ready to pass with the greatest Return on Investment.
Q. How do I get an estate plan?
A. The first step is to call us for a free consultation.
