Legacy Planning
Setting Your Estate In Order
A common myth surrounding the needs and benefits for estate planning is that they are only necessary for the elderly or high-net-worth individuals, but it is a key area of financial planning that should not be overlooked. Failing to formulate a proper legacy plan can lead to costly and undesirable outcomes in the event of an untimely passing, such as requiring assets to pass through probate court and potentially lead to a distribution of assets against one’s wishes.
Legacy planning revolves around properly arranging your affairs to ensure your assets are protected in the event of your passing, that they are distributed according to your wishes, and that these are both completed with cost efficiency and organizational effectiveness in mind. Planning your estate is particularly important if you have minor children, a guardianship is established through a last will and testament. We pride ourselves on our effectiveness in communicating to clients the many estate planning strategies that exist and work closely with you through our attorney, Sam Eck, J.D. to identify which strategy fits your unique needs and personal circumstances.
Updating Your Estate
We recommend Wills and Estate Plans be updated periodically to make sure that both your situation has not substantially changed and that the law has not changed in a way that will affect your Legacy Planning strategy. The frequency in which we might recommend an update is dependent upon each client and their particular situation.
Supporting Documents
To make the most of your estate planning appointment, please bring recent copies of the following:
- Any Wills or Trust information you currently have (if you are updating them)
- The Trust – Estate Planning Workbook
- The Will – Estate Planning Workbook