When people think of estate planning, it is generally thought of only being needed by the ultra-wealthy. Actually though, this isn’t the case. Whether people realize it or not, estate planning is a big part of retirement planning. Because of legislation and demographic changes, as well as tax, inheritance and privacy laws, proper estate planning is greatly needed in almost all retirement plans. So, make it a point to not forget about estate planning.
The Kokomo Perspective’s May 16 article, “Don’t Forget About This,” reminds us that the ultimate goal of estate planning is to pass on as much of your unused assets with the least amount of taxes, expenses, fees and time—and do it as privately as possible. You want to protect and preserve your legacy for your family, loved ones, and charitable causes.
You don’t have to be ultra-wealthy to want to make this happen.
This is why you can’t forget about proper estate planning. There are numerous issues to consider, and it’s best to do this with the help of an experienced estate planning attorney.
A few of these issues are common sense, like having the right type of estate planning documents; however, most are just not considered by many people.
Make it a point to talk with an experienced estate planning attorney about which issues should be addressed in your estate planning so that you can maximize, protect and preserve your legacy the very best way.
Reference: Kokomo Perspective (May 16, 2015) “Don’t Forget About This”