WHAT IS ESTATE PLANNING AND WHO NEEDS IT?
Each and every person has an estate, whether large or small or somewhere in between. Your estate consists of everything you own including your home, car, accounts, investments, life insurance, retirement accounts and tangible personal items such as jewelry, furniture or other collectibles. Many of us wait until we get older or until we accumulate assets to start our plan. This is common, however, can often be a mistake because a delay could result in a missed opportunity to plan or even the elimination of some planning options. Estate planning consists of written documents as well as decisions regarding joint ownership and beneficiaries. An estate plan may consist of a Will, Trust, Deed, Power of Attorney or a combination of these items. It is important for adults of all ages to begin a plan.
Each and every person has an estate, whether large or small or somewhere in between. Your estate consists of everything you own including your home, car, accounts, investments, life insurance, retirement accounts and tangible personal items such as jewelry, furniture or other collectibles. Many of us wait until we get older or until we accumulate assets to start our plan. This is common, however, can often be a mistake because a delay could result in a missed opportunity to plan or even the elimination of some planning options. Estate planning consists of written documents as well as decisions regarding joint ownership and beneficiaries. An estate plan may consist of a Will, Trust, Deed, Power of Attorney or a combination of these items. It is important for adults of all ages to begin a plan.
