Provide support and financial stability- An estate plan can allow you provide support for your surviving spouse, children, and grandchildren.
Preserve wealth – An estate plan can allow you to preserve your wealth for later generations.
Ensure your wishes are carried out – An estate plan can help you ensure your wishes are carried out if you are ever become incapacitated and are unable to manage your affairs. It's important to have a financial power of attorney, health care surrogate, and a living will.
Support a charity – An estate plan can allow you to support your favorite charity or cause with a gift of money, securities, or other property.
Distribute assets – An estate plan can aid in the distribution of assets to beneficiaries in a timely fashion, with minimum legal hassles.
Minimize expenses – An estate plan can minimize taxes and expenses that can go along with transferring assets.
Provide – An estate plan can help you ensure that you have provided enough cash to meet expenses and prevent the forced sale of assets.
Limit issues – An estate plan can limit issues for your loved ones by clearly specifying beneficiaries and the benefits you want them to receive.
Protect your privacy – You can protect your family's privacy with an estate plan designed to prevent your will from having to be probated and becoming public record.
Set and meet expectations – With an estate plan, you are able to set and meet expectations of your survivors so there is no confusion or misunderstanding.