Almost everyone has an estate, whether they know it or not. In a nutshell, an estate is everything a person owns: a car, house, bank accounts, life insurance, furniture and other personal property, investments and businesses. No matter how modest or large your estate may be, proper planning will help ensure that your property and your estate is handled according to your wishes.
A proper estate plan will ensure to whom you want to receive something of yours, what it is you want them to receive, and when they are to receive it. In addition, your estate plan can help lower the amount paid in taxes, legal fees and court costs.
There are many different types of estate plans, but they all typically begin with a will or living trust, and they help you organize your records and beneficiary designations. Whether you want to provide for your immediate family, leave a legacy for a charity, reduce taxes on your estate and minimize expenses, or ensure your business continues to run and operate smoothly, you will want an estate plan in place.
The experienced estate planning attorneys with The Franchise & Business Law Group can explain all the options available to you, and help you meet your estate planning goals.