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Monthly Archives: June 2017

Jun 5, 2017 - Articles

What is Estate Planning and Why Should You Do It?

What Is Estate Planning? What on earth is estate planning? Many people don’t have a clue. Estate planning sounds like a rich person’s concern. However, estate planning is not only for the rich. It is also important for people with limited assets. Everyone has an Estate, and Everyone Should Make Plans to Protect It. So, what is estate planning? Everyone no matter how rich or poor has an estate. Your estate is made up of all the things you own. Your house, car, financial accounts, insurance accounts, jewelry, furniture, clothes, and pets are all part of your estate. Estate planning assumes that (at some point) you will no longer be able to make decisions about your things or how you will provide for the people you love.  So, estate planning allows you to decide in advance what you will give away, who will get your things, when they will get your them, and even what they have to do in order to get them. Estate planning also lets you plan how you and your loved ones will be protected when you become incapacitated. You can decide what end of life care you will receive, you can plan who will get your money, and you can protect your family from future creditors and unwise spending. A Simple Example: How Estate Planning Can Help Rufus. Let’s consider a simple example of estate planning. Imagine you have a beloved golden retriever named Rufus. What would happen to Rufus if something happened to you? […]

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