2. Who Needs an Estate Plan?
Here is part 2 my series entitled, Estate Planning – What You Need to Know.
Who Needs an Estate Plan?
If you have a family, a house or a business or you have assets you would like to pass down to certain people or charities, then you absolutely need an estate plan.
An estate plan will make sure there are enough funds to take care of your spouse and young children, often with life insurance, and it will name guardians to raise your young children if you and your spouse are no longer around.
An estate plan will make sure your hard-earned assets will stay in the family and will not be left for the state and federal government to tax and the court to distribute.
An estate plan will make sure your assets go to the people or charities you want to receive them.
An estate plan will include a strategy to manage your business if something happens to you.
An estate plan will make sure the person you want is authorized to manage your assets and affairs if you become incapacitated.
Next is part 3 – What if You Don’t Have an Estate Plan.