Everyone has an estate. Some are large, and some are small, but if you have anything at all, you have an estate and you should be making plans for it.
Your estate is made up of anything you own - your car, your house, the money in your bank account, life insurance policies, jewelry, personal affects...just about any and everything you can think of. And while we'd all like to avoid the eventuality of death, we owe it to ourselves and our families to begin thinking of how best to distribute our assets.
Estate planning isn't limited to who gets what in a will; it's a plan for all your end of life (or at the time of incapacitation) designations. Estate plans provide clear instructions as to who will take care of your children and ensure that your debts are paid; it provides plans for all of your assets and business, thereby preventing family disputes. Take control of your future and the people and passions that have shaped your life. You have, after all, spent your entire life working hard to obtain them, you should be able to determine who gets them in your absence. To ensure that your wishes are carried out, you must plan now for that inevitable day, and provide written instructions to pass on to your loved ones.
Many people avoid the inevitability of death, making estate planning an often overlooked and undervalued service, but here at Funderburg Law, we stress the importance of utilizing the various estate planning tools. We work with clients of all income backgrounds to personalize and tailor estate plans that match our clients' needs, goals and desires. There are many different estate planning tools that likely apply to your individual needs, but a complete basic estate plan should at least contain the following:
If you would like to learn more information about estate planning and how to make it work for you, check out our Resource tab, or download some helpful tidbits here: