Estate planning is truly NOT just for the wealthy; estate planning is for anyone who cares about someone else. This is why the estate planning experts at Camden County-based Bratton Scott are available to help you make sure your plan is setup correctly.
- If you care, you must have a comprehensive estate plan. Read on to learn 29 estate planning benefits you may not know about.
- If you don’t care about being in control, leaving a burden, or what happens to you, your money, and your family, then planning is not necessary.
Here is a list of 29 estate planning benefits (for every day folks) that you may not know about, but should.
- Helps to keep the peace in blended families.
- Keeps you in control of your finances, health care decisions, and family.
- Protects and provides for your pets.
- Keeps your daughter-in-law or son-in-law from taking your child’s inheritance.
- Prevents an alcoholic child from using his inheritance to drink himself to death.
- Protects a drug addicted child from squandering your hard earned money.
- Establishes your legacy.
- Reduces the burden you leave on your loved ones.
- Provides instructions so your loved ones know what you want them to do.
- Keeps you from being hooked up to machines, which artificially extend your life.
- Allows you to choose who will make health care decisions on your behalf.
- Saves money on legal fees, taxes, and other costs.
- Can help keep your surviving spouse from loaning money to his new girlfriend/boyfriend.
- Prevents the unintentional disinheritance of your children.
- Protects an addicted beneficiary.
- Protects a beneficiary who is receiving governmental assistance.
- Can avoid probate, if necessary.
- Keep your financial and family affairs private if desired.
- Protects your beneficiaries’ inheritances from being taken in a bankruptcy, lawsuit, medical crisis, or divorce.
- Carries out your charitable intent.
- Keeps the court out of your private business if desired.
- Allows you to dictate how your money will be used if you become incapacitated.
- Provides professional legal, accounting, and investment support for your loved ones.
- Allows you to decide who raises your minor children.
- Allows you to determine who receives your assets.
- Enables you to pick who has access to your private information to manage your assets, pays your bills, and files your taxes.
- Fosters communication between your loved ones.
- Allows you to control your final arrangements.
- Provides a way to pass sentimental gifts, letters, photographs, videos, and scrapbooks to specific loved ones.
While the wealthy may need additional advanced estate planning tools to deal with businesses, taxes, and asset protection, all people need good and comprehensive estate planning.
Where to Get Good Legal Guidance
Estate planning is not just for the wealthy; if you care about someone and are interested in any of these estate planning benefits for you or your family, consult with our Estate Planning Attorney Charles Bratton. You can reach our estate planning lawyers at 856-857-6007. Your next step is to contact our office. We look forward to hearing from you.