If you are like most people, then you put a lot of time and energy into building up your assets and taking care of your family. Short of winning the lottery, it is not easy to build up wealth. It is also not easy to maintain a marriage and rear a family.
As The Gazette points out in “Take care of your family with a good estate plan,” much of that effort can go to waste if something happens to you and you do not have a good estate plan. The estate plan protects your family and makes sure your assets are distributed to your heirs, including your spouse and children.
The article points out that the first step in getting a good estate plan and protecting your family is to hire a good estate planning attorney. Do not be tempted to create your own plan. The attorney will do a much better job of protecting your family than you can do in this instance.
Next, think about the assets you have, how you would like everything divided up after you pass away, and who you would like to be in charge of making sure everything is distributed according to your plan.
Once you have that knowledge, take it to the estate planning attorney. Let the attorney work with you to come up with the best way to implement your wishes.
An experienced attorney will know many different ways to distribute estate assets and can give you several options from which to choose. Make sure that you discuss everything with your attorney and get a plan that is just right for your unique circumstances.
Reference: The Gazette (Aug. 14, 2016) “Take care of your family with a good estate plan”