Estate Planning for Regular People

You might think that only celebrities and big shots need estate planning, but that couldn?t be further from the truth. Many people benefit from sound estate planning, but it?s not really about you. A well-planned estate helps make things easier for your family and loved ones when you pass. It?s about thinking of others and thinking ahead.

Estate planning has different requirements and laws depending on your total assets. When?s the last time you tallied your total assets and liabilities? Have you considered who the administrator of your estate will be so that your beneficiaries don?t have to struggle? Do you have a disabled loved one or beloved pets that you want to take care of?

Planning Made Easy

You might not think you have much of an estate to deal with. However, there are a lot of things to consider. Bank accounts, stock options from old employers, vehicles and watercraft, personal items?the list is nearly endless. However, a little planning now can make things much easier on your loved ones down the road.

There?s a good chance that your wishes and needs will change. You might want to add new beneficiaries in a few years, like those future grandkids. Working with an estate planning attorney helps keep you on track and organized. You don?t have to worry about anything slipping through the cracks.

Unique Situations

A living trust is a great idea for many people. This transfers ownership of property into the trust, and it?s distributed accordingly after you pass. You control what goes into the trust, who it goes to, and if there are any changes. This can help your loved ones avoid probate court and streamline the process.

You also might want to work with an estate attorney if a loved one is disabled. After all, you want to make sure they?re properly cared for if you pass. What about your pets? They can?t have a trust, but you can appoint a caretaker and a trust that?s solely for the care of your furry family members.

Is Estate Planning for You?

The easiest answer to this question is yes. Almost everyone has assets that need to be disbursed when they pass. Your loved ones will be grieving, so there?s no need to make things more difficult. The best gift you can give them is solid planning.

Estate planning also doesn?t have to be expensive. You can build a relationship with an estate planning attorney now and change your plans as you see fit. Make sure your loved ones are protected. Estate planning is a smart move no matter what your situation.

Jason Knapfel manages web content for the Horenstein Law Group in Vancouver, WA. The firm specializes in everything from estate planning to business law.

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