Posted by & filed under Estate Planning, Finances, Legal.

Think about your children for a moment. As YOU get older, your kids begin to be concerned that there might be a mess to sort out when you are gone. They probably find it very difficult to talk about this with you, perhaps because they are afraid you will think they want you to die. Whether you talk about it or not, your kids are probably worried about what happens when you die and they have to figure things out.

A properly constructed estate plan will ensure that no part of your estate will go through probate; will reduce your risk of paying estate taxes; will reduce your capital gains taxes; will reduce the income taxes paid by your heirs and beneficiaries; and will ensure that should you become incapacitated there will be someone you have chosen, taking over your finances and your medical decisions; and, most importantly, will ensure that your assets go where you want them to go in the manner you wish.

The relief your children—and your extended family—will experience when they know you have made decisions and planned for the orderly and secure transfer of your estate is enormous. When adult children learn that their parents have set up an estate plan, I see the visible relief and comfort in their faces. You, your spouse, your children, and others will be secure in knowing that your estate has been protected and preserved.