Reduce Estate Taxes

     Taxes alone can be a huge burden when transferring assets. It is often a big motivator for people to put an estate plan together. Through basic planning, married couples can greatly reduce or eliminate estate taxes by setting up A-B Trusts or A-B-C trusts.   There are many other ways to help deal with taxes regarding estates. 

It Avoids Messes

     Many clients may see disastrous events happen in their own lives or the lives of others. Seeking advice from an estate planning attorney can save a lot of time, money, and headache when protecting what’s yours. If you are to become incapacitated or ill without the proper legal plan, then the courts determine the next steps for your care and assets. This is a mess, and you don’t want your fate decided by people who don’t know your situation or wishes. An estate plan is the best defense against this.

Protect Beneficiaries

     Without the proper plan, your beneficiaries will take a financial hit after you pass on. Legal expenses and taxes can put a huge strain on your family if you are to die without an estate plan. Guardians should be designated for any minor children. Trustworthy adults should be in charge of carrying out your wishes upon death. You can plan for multiple situations, such as divorce or asset changes. Your plan can easily protect your beneficiaries from all this and more.

Protect Assets

     Asset protection is one of the more significant reasons that people get estate plans. Please don’t wait until it’s too late to protect your wealth against a Medicaid spend-down or from long-term care expenses. Contact a local estate planning attorney to protect your assets. Keep you and your loved ones safe by making a plan to use when the situation arises. This will keep you in a good state of mind knowing it will all be taken care of the way you want when the time comes.