You may be asking yourself, do I need an estate plan? Contrary to what many believe, estate planning is not just for the very wealthy. By definition, an estate plan is an arrangement for your assets and debts upon your incapacity and/or death. The law has a default estate plan for all of us called Intestacy. This default arrangement is often more costly than the plan you would make and it will never take into account your personal preferences. Many people mistakenly think that estate planning only involves the writing of a will. Estate planning, however, can also involve financial, tax, medical and business planning. For example, Trusts, unlike wills, have the benefit of avoiding probate and a lengthy and costly legal process.
While no one enjoys thinking about disability or death, developing a comprehensive estate plan is one of the most important steps that you can take to protect yourself and your loved ones. Consider that when you fail to plan, you risk leaving it up to the courts to decide who should receive your property or who will care for your children. By investing the time now to correctly plan your estate, it is very likely that you will be saving your loved ones months, if not years, of agony and thousands of dollars in court costs and taxes.
The attorneys at Schock Solaiman Ramdayal, PLLC are trusted estate planning attorneys. We view estate planning as a lifelong process, not a one-time event. We will work closely with you at the onset to develop a full understanding of your interests and objectives. We will then help you create a complete and customized estate plan that protects you and your loved ones.
Ultimately, your estate plan succeeds only if it works when tested, so we will focus on building a lasting relationship with you and your family. We want to become your most trusted advisor to whom you turn for ultimate peace of mind that your plan and family remain protected through life’s twists and turns.