How to Preserve Wealth
Preparing your family financially for when you're gone can seem overwhelming, but it doesn't have to be. The purpose of estate planning is to preserve your wealth, the assets you've spent your life creating and building. Through this, you're protecting your family by making sure that your assets are distributed when and how you want them. Estate planning also includes managing the estate taxes that could be due after you've passed away.
Learn more about preserving your wealth and ensuring your loved ones are taken care of after your death with our guide below. We're providing you with the basic estate management principles to help you get your financial and personal affairs together and decide how to distribute your wealth after your death. Don't hesitate to explore our additional estate guide, or give us a call for more information.
Why is Estate Planning Important?
When properly planned, you'll make a significant difference, as it lets your family know your healthcare wishes and how to carry them out if you're no longer able to communicate those wishes. With these plans, you can decide, without constant legal battles, where your possessions go without causing divides in your family. Avoid legal costs and family issues, and make sure everything is planned out and taken care of.
Did you know that 60% of Americans don't have a will? This is a vital document that's part of your estate planning. Remember the question above about the importance of estate planning? Without a will, the state decides how everything gets distributed. While important, Wills can be contested in court since they're instructions on how your assets should be distributed.
How Much Does Estate Planning Cost? Prices can vary by state and the number of assets you need to divide up. Many recommend contacting a lawyer with expertise in estate planning for a consultation. They'll provide you with the costs and the steps needed to carry out your wishes.
Learn More With IntentGen!
Having financial documents in order helps make things go smoother after you've passed away. Have everything in clearly labeled envelopes, and make sure everything is there. For additional information or if you have questions about estate planning, give us a call! We also have handy guides to check out! Preparing and planning for your death is never easy, but making sure that your loved ones are taken care of is important.