The unthinkable just might happen, so be prepared. Have a well documented and detailed set of instructions already neatly assembled and in place. Eliminate confusion by planning ahead. Estate planning not only helps avoid multiple state probate proceedings, but eliminates probate altogether. While the probate process remains open for public scutiny, estate planning keeps all asset transfers private. The segregation of assets will be thorough, leaving all questions answered and challenges to the estate nonexistent. Guardianship for minors, or disabled children, can be set in place prior to any unforeseen event. A living trust doesn’t just help in the event of death, it can also be referred to if you are deemed incapacitated. The changeable or revocable aspect and the estate tax minimization advantages, further add to the value of the living trust.
Estate planning gets everything in order while levelheaded thinking is in tact. It’s called estate planning for a reason and the planning part is the key part of the equation. Allow The Flaig Law Firm Estate Planning Westlake to help set your future straight.