Estate planning is the process of planning and organizing the disposition of your estate. Planning your estate will help you eliminate any doubts about how your assets will be divided. It may also reduce taxes and other expenses that are often incurred after a person dies.
Before planning your estate, it is recommended to consult an estate planning attorney. They can give you a list of items that might be necessary to protect your assets now and in the future. If you want to hire an estate planning attorney, navigate to https://www.danalegalhelp.com/location/chandler/.
Employing a lawyer will ensure that your estate is distributed to the right people and places. A lot of people believe that the more valuable your estate is, the more important it is to have an estate planning attorney. If your estate exceeds $1.5million (for tax reasons), or if you suspect that you might have problems with a disgruntled relative, this is especially important.
Estate planning allows you to have complete control of your assets when you die. Your plan will determine what happens to your property. It will decide who gets it, where it goes and how it will happen. Your assets can be transferred to your spouse, children, friends, or charity.
You don't need a trust or a will if you do not have one. You will also have the right to choose who will manage your estate after you pass away. This person could be your spouse, your young child, a friend, family member, or someone you trust.