Top Ten Reasons Why You Need an Estate Plan
With an estate plan you can:
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.
If you do not have an estate plan in place or it has been a while since you have updated your estate plan, you should contact us today to schedule an estate planning consultation.
Our law office is located in Memphis, Tennessee, but we also serve Bartlett, Germantown, Collierville, Millington, Shelby Forest, Lakeland, Fisherville, Arlington, and Rosemark, Tennessee.
This information is for advertising purposes only. It does not constitute legal advice, create an attorney-client relationship, or guarantee particular results.