(Trusts, Estates, Powers of Attorney, Healthcare Directives, & Wills):
Unfortunately none of us will live forever. Make sure your loved ones will respect your wishes and know what to do in your absence. Estate planning is also a great way to help your family, benefit your favorite charity, or to direct your sentimental items to the correct friend or relative. If you have a business, children, or a spouse, then make sure they can and will be taken care of in case of your passing. Most importantly, proactive estate planning can maximize the use of tax exemptions and ensure your beneficiaries receive the greatest number of benefits from your foresight. Occasionally, estate planning can also prevent infighting among your surviving family members; making it a great way to help preserve family cohesion after you have passed.
Wills will direct your assets to specified individuals and loved ones. Though a will alone may not be enough to ensure your property and assets are preserved for generations.
Trusts will allow you to preserve your assets for a generation (or more), so that your children or grandchildren are financially secure. Trusts also help you fully utilize tax benefits, to maximize the assets that will be distributed to your children.
Living Wills, Health Care Directives, and Powers of Attorney can also have a huge impact on decisions that affect your life.
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