Estate Planning: A General Overview

Nov 5th, 2019
Category: estate_planning
By Jessica Spenik

It is hard to imagine what life will be like when we are no longer a part of it. It is hard to imagine what life will be like for our loved ones when we die. A figure published in a Fidelity article from May 2019, stated that nearly half of Americans do not have a Will, and even fewer have an Estate Plan. Estate Planning is not always a popular subject, due to what it requires us to "imagine" and plan for. Some of you may not have had time to realize the benefits of having an Estate Plan, or how greatly having Estate Plan can lessen the burden on your loved ones after you are gone and in certain cases, when you are still alive but no longer able to make decisions for yourself.I recommend that each individual examine their individual situation and consider whether they should make an Estate Plan.There are several life events/personal wishes that indicate that an Estate Plan could benefit you greatly.

These can include:

  1. The arrival of children.

  2. The purchase of real estate.

  3. Owning a business and succession planning.

  4. Upcoming travel plans.

  5. Having minor children.

  6. If you have any upcoming medical procedures or treatments.

  7. Having a desire that some money go to charities.

  8. Individuals going through a divorce or recently divorced.

  9. New married couples.

  10. The desire to leave specific sentimental items to specific named individuals.

  11. Have specific requests for your pets.

While the list is not all inclusive, please do not hesitate to reach out to me personally or place a call to my office to schedule an individualized consultation so that we can determine the appropriate Plan for the future of you and your loved ones.

Contact us for your free consultation.