Estate planning is the process of determining what happens to you and your property when you can no longer make decisions because of incapacity or death. Without a plan, an already difficult situation for your loved ones can be even worse. Not having a plan can delay your medical care if you become incapacitated and make it harder to pass your wealth to your heirs if you pass away.
A thorough financial plan requires you to remain up to date on the current tax environment. Proper planning and documentation can reduce taxes, avoid Probate Court involvement, assure that the right property passes to the right people at the right time with the right restrictions and protections as well as ensure that the intended individuals will be in charge.
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