“Failing to prepare is preparing to fail” is a quote by John Wooden which rings true in a number of different contexts, however, it also applies well to Estate Planning. If you do not leave your affairs in order before you die, you are leaving your loved ones, and possibly your not-so-loved ones, with the responsibilty, and litigation, of figuring out how you intended to distribute your estate. Essentially, you will be letting the courts decide who should receive your hard-earned assets.
Estate planning is not just writing a last will and testament for someone, or drafting a living will. An attorney in this field familiar with the tax ramifications of your entire estate will listen to your needs and interests and can help you achieve them in the most tax-friendly way possible. There are many different avenues of setting up your estate, but the key is to speak with an estate planning attorney while you are able bodied and of sound mind.
If you need to speak with an estate planning attorney, or just have general questions about the process, no matter how small the issue, contact Josh Frick at Frick Law today.