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What is estate planning? It involves how you control your assets during wellness, disability, and upon your death.
Done properly, planning can help avoid probate, minimize taxes, and ensure an orderly disposition of assets at death and the peace of mind that comes from knowing you, your family, and loved ones will benefit from your foresight making estate planning worth the effort.
Keep in mind that in addition to asset management during wellness, disability, and upon death, estate planning also concerns what happens to you should you become disabled and unable to speak for yourself. With health care, mental health care powers of attorney, and a living will, you can decide ahead of time who will make decisions for you and provide guidance on how you would like those decisions made.
In addition, should you become disabled, you also can decide who should take care of your children and with what resources.
It can be difficult to contemplate some of the issues that arise in estate planning, and the structure of a plan can be complex. When working with an estate planning attorney, it's important to find a person who will provide not just legal expertise but also an understanding of your unique situation.