Estate Planning

Plan Today, Protect Tomorrow

Estate Planning, also known as Life Planning, includes Wills, Trusts, and Powers of Attorney, among other things. Your estate is everything you own—your car, home, other real estate, accounts, investments, insurance, furniture, and personal possessions. Estate Planning ensures that your loved ones receive what you leave behind with minimal taxes, legal fees, and court costs.

Key Components of Estate Planning

  • Instructions for Asset Distribution: Specify who receives what and when.
  • Disability Planning: Provide care instructions if you become disabled.
  • Guardianship: Appoint guardians and inheritance managers for minor children.
  • Special Needs Planning: Ensure support for family members with special needs without affecting their benefits.
  • Financial Protection: Plan for loved ones who may be irresponsible with money or need protection from creditors or divorce.
  • Insurance:
    • Life Insurance for funeral expenses.
    • Disability Income Insurance to replace income if you’re unable to work.
    • Long-Term Care Insurance for extended illness or injury.
  • Business Succession: Plan for the transfer of your business at retirement, disability, or death.
  • Tax Minimization: Reduce taxes, court costs, and legal fees.
  • Ongoing Process: Regularly review and update your plan.

Estate Planning Is For Everyone

Estate planning is not just for the elderly or wealthy. It is essential for everyone to protect their assets and provide for their families.

Starting Estate Planning

Will or Living Trust:

  • A Will provides instructions but requires probate.
  • A Living Trust avoids probate, ensures privacy, and can be managed according to your wishes after death.

 

Affordability and Timing

Estate planning does not have to be expensive. Start with what you can afford and expand as your needs change. An experienced attorney can provide critical guidance and peace of mind.

 

Peace of Mind

Proper estate planning gives you and your family peace of mind, knowing that your affairs are in order.

Consequences of Not Planning

  • At Disability: Without planning, a court appointee controls your assets, leading to potential public, expensive, and time-consuming processes.
  • At Death: Without a plan, state probate laws determine the distribution of your assets, which may not align with your wishes and could leave your family in financial distress.

Your passing will be tough on your loved ones. Help ease their burden by leaving clear directions of your wishes. A well-prepared estate plan ensures that your loved ones are cared for, your assets are distributed according to your desires, and your legacy is preserved. Secure their future and gain peace of mind by planning today.

I Signed My Estate Plan, Now What?

You’ve met with your attorney, decided on your estate plan, and signed the necessary documents. Now what? Click below, and we’ll guide you through the next steps to ensure everything is in order and all your bases are covered.

Start your planning today.

Set a consultation with one of our Estate Planning Attorneys  by calling 1 (844) My-EQUES

Partner Ken Hochstetler
Managing Partner
Attorney Moriah Hinton
Attorney