The Importance of Having an Estate Plan in Place

Estate planning can be a depressing topic, and one that is easy to set aside. While you are building your estate, you may be tempted to focus on the current building process, rather than looking ahead to the future. Yet, if tragedy strikes, can you be confident in how your estate will be divided? Do you trust the courts to divide it properly, and are your family members prepared for the large tax bill tied to a high-value estate? Living life without an estate plan is simply too risky, and it puts too much potential pressure on grieving loved ones if an unexpected event takes place.

Benefits of an Estate Plan

While the primary purpose of an estate plan is to plan for the division of your assets, that's just one purpose. Your estate plan also aids you in:

• Deciding who will care for dependents if you cannot do so.
• Determining who will be the executor of your estate.
• Structuring the estate so your loved ones have fewer probate and tax costs.
• Deciding how to divide your assets specifically.
• Choosing the individual who will take care of you if you are medically incapacitated.
• Having an estate plan gives you peace of mind that your estate will be handled exactly as you wish, without fear of the state or courts taking over.

Risks Without an Estate Plan Tragedy

can strike at any moment, robbing your loved ones of more than just your presence in their lives. If you were suddenly gone, and the courts were left with the responsibility of dividing your estate, after draining it to pay taxes, how would your loved ones move forward? Without an estate plan, you are leaving these decisions in the hands of strangers. You are also putting your hard earned money at risk, because estate taxes could tap into what you have earned. You can avoid these risks with an estate plan.

Your loved ones are depending on you now, and that dependence continues after you are gone. Give them and yourself peace of mind with a proper estate plan.
Are you ready to create a plan for living the life you've always dreamed about? Contact us today to schedule your complimentary discovery meeting.

Your Guide to Financial Independence Provided by Aurochs Financial Group