What Goal Should Proper Estate Planning Accomplish?
Estate planning goals should be looking at the endgame. What are you trying to achieve when all is said and done? Most times, people just want security in knowing that things are going to be okay. What do you want to achieve and what do you want to avoid? Who and what do you want to protect the most? These are all important questions for the client and these are issues the attorney drafting the documents should be looking at to determine the needs of their client.
When Is The Best Time To Start Planning For Your Estate?
The best time to start estate planning is the earliest possible time. If you start early in life, your efforts will start compounding. However, that doesn’t mean that you can’t start at any time. You just may have to use more force to get your desired result.
What Is A Will? Is A Will A Part Of Every Estate Plan?
A will is an overused, underrated, and misunderstood document. This document is directed to a probate court judge to determine how to distribute your assets when you die. There is also another type of will that is called an intestate will. This is the unwritten will, where the state you live in determines who gets what and how much they get. You want to be very careful to have something that says where things go and who gets those things. At the same time, a document that avoids the probate process entirely can save you a lot of money, time, and frustration.
What Are Limitations To Having Just A Will In Place? Is A Will Enough On Its Own?
The limitation of having a will is that it is going to go to probate court and that is going to take power away from you, in terms of distributing your assets. It is also going to take money away from you, in terms of your assets, because probate court costs money. People fully don’t understand the concept of a will and having one on its own is not necessarily enough. You have to have other documents in order to make the will a proper instrument of your estate plan.
For more information on Goals Of Proper Estate Planning In Missouri, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (314) 786-3536 today.
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