Estate planning is not just for the super-wealthy. It’s for anyone who owns assets and income they wish to give to specific people or organizations, either before or after they pass away. Estate matters are unique and personal. We work intimately with our clients to understand their goals, learn about their assets and income as well as their family. Then we assess which estate planning methods will best suit their needs and create a plan that minimizes taxes.
“A good estate plan is one of the kindest things you can do for your loved ones.”
We advise Parents of minor children to especially consider having an estate plan. Here is why it is important for young families to have an estate plan.
Selecting who cares for your children in the event of your passing helps avoid additional stress and heartache on your children. When parents have not chosen a guardian prior to their passing the court will select one. It may or may not be the person you would want raising your children if you died.
Many people think you have to have a lot of wealth or assets before needing an estate plan. That’s not the case. Estate planning is very valuable even if you don’t have extensive assets. Our experienced estate planning lawyer and team can advise parents on options such as life insurance policies.
An estate executor can manage your assets and distribute them to your children per your instructions. Children often can’t manage parent’s assets until they are older or adults. Having an estate executor can be very helpful in protecting your children’s financial situation even when assets are as simple as things like cars, retirement accounts, a house, bank accounts, etc.
In addition to creating estate plans, we can help with updating existing plans due to changes in laws or changes in family circumstances, i.e birth of a child, marriage or divorce.