Estate Planning
I’m no pundit, nor am I an estate planner or writer of wills. However, it is important that we all
make a plan for our estate. Without an estate plan or will your estate is bound to end up in
probate court. Once in probate court, it can take years to resolve the matter. Additionally, an
estate plan or will can prevent family disputes. Julia Kagan wrote that her key takeaways for
estate planning were further enhanced by Anthony Battle via Investopedia.com. The following
are examples of Julia Kagan’s key points:
Estate planning involves how an individual’s assets will be preserved, managed, and
distributed after death or in the event of incapacitation.
Estate planning tasks involve making a will, setting up trusts, and/or making charitable
donations to limit estate taxes, naming an executor and beneficiaries, and making
funeral arrangements.
A will is a legal document that provides instructions on how an individual’s property and
custody of minor children (if any) should be handled after death.
Various strategies can be used to limit taxes on an estate, from crafting trusts to making
charitable donations.
Estate planning can and should be used by anyone, not just the wealthy.
According to the last, key takeaway, everyone should at least have a will but I’m convinced that
no matter your assets Estate Planning is something that should be considered. Estate planning
gives your loved ones more protection and helps to ease the stress associated with loss.
Hopefully the aforementioned will get you thinking and moving in the right direction to provide
stability and protect your loved ones even after you are no longer here. Thumbs up, like, and
share.
Marvin Dixon, Founder
vmgreview.com
VMG Review 