Don’t make the mistake that some people make, thinking their total assets are insignificant and they don’t need to plan their estates. The truth is much different. Most people would benefit from good legal advice in this planning process whether the estate is large, small, or in between. The key to making this decision is having experienced legal advice available from a person who can guide you to the correct choices.
It bears repeating: estate planning is beneficial to everyone when the process is completed correctly. It’s certainly not just for someone who is retired and has been successful in accumulating assets throughout his or her lifetime. In fact, proper planning is generally more important to those of modest means. After all, they cannot afford significant losses due to poor decision making and faulty planning.
Some steps to be taken during estate planning are:
* Creating care instructions if you’re disabled
* Naming a guardian for minor children
* Providing for family members with special needs
* Updating life insurance status and instructions
* Establishing business transfer instructions
* Taking steps to minimize taxes and fees
If you haven’t taken any steps toward planning, you might want to get in touch with estate planning attorneys in Topeka, KS to schedule an initial consultation. Unfortunately, too many people don’t plan at all and they suffer the consequences later in terms of confusion, disputes, and so on. Start today with the mindset that you have an estate that includes your residence, cars, bank accounts, insurance, and personal possessions.
Once you have this fact firmly in mind, contact us to arrange a discussion of the best path for your planning process. You can do a few important things now to determine how your estate will be controlled and who your assets will be passed on to upon your death. It’s essential to provide written instructions for this process and an experienced legal expert can help.
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