A conversation with an experienced estate planning lawyer will be much easier when you have your goals in mind before attending the meeting. Different people approach estate planning with their own individual goals and the more time you can take to reflect on these, the easier it will be to craft strategies and tactics in line with your unique concerns.
Some of the most common reasons for creating an estate planning include:
- To ensure that the family business you have worked so hard to build remains operational, functional and successful after a death or a sudden departure.
- To protect wealth using tools like asset protection planning.
- To determine the path of distribution for assets after a death occurs.
- To ensure that pets are financially provided for if something were to unexpectedly happen to an owner.
- To ensure that minor children have a guardian established to take over responsibilities of parents if the parents pass away prior to the child growing up.
- To outline a plan that protects the government benefits of a child with special needs while also providing for his or her care.
- To provide for incapacity or sudden disability by outlining who is able to make decisions and manage the affairs of the incapacitated person.
- To outline goals and strategies for charitable giving.
- To reduce or avoid estate taxes for those with significant wealth.
- To enhance control over what happens when a person receives an inheritance, such as ensuring that the money is used for a specific person like going to college or is passed on in a manner that allows that person to be financially successful.
Schedule a consultation today with an experienced estate planning lawyer.