Estate planning is not only for the wealthy. Anyone who owns a home, cars, bank accounts, life insurance policies, retirement plans, and even personal items such as furniture, and collections has an estate. Regardless of how much you have, it’s important to understand the basics of estate planning so that your goals are met even after you’re gone.
A good estate plan provides you with the best utilization of assets during your lifetime, but also helps prepare to transfer your assets to others upon your death.
For parents, the single best reason for estate planning is to plan in the event of your death prior to your children attaining the age of 18. If you were to die, who would take care of your children? In addition, who would take care of your children’s assets until they are old enough to manage these assets themselves?
If you die without a will, there is tremendous potential for conflict and confusion among surviving family members and friends. A clear comprehensive estate plan helps provide predictability. Without a comprehensive estate plan, the work you’ve done throughout your life, could be lost or given to unintended beneficiaries.
The Barnett Law Firm can assist you with a variety of estate planning and probate services. We offer a flat fee estate plan package that can help provide guidance to individuals and families to prepare necessary estate planning documents such as wills, trusts, guardianship directives, powers of attorney and living wills.
If your estate is more complex, our attorneys are also experienced in drafting customized, comprehensive documents that allow us to take into account your current assets as well expected future asset growth. We also regularly represent clients in estate administration and probate matters.
The concept of “family” has come a long way. Today a new picture of family has emerged. Whether you’re part of a husband-and-wife team with or without kids, a grandparent caring for
minor children, adopted children, or step children, the family tree can have many branches.
Today’s families come in many forms. Non-traditional unions including second and third marriages and couples choosing co-habitation over traditional marriage are becoming
commonplace. Maybe you have a life partner, a lifelong friend, or a second family like a church that you want to look out for. With an estate plan you can ensure that each unique situation is addressed.
At the Barnett Law firm, the estate planning process always begins with an evaluation of your goals, your family’s situation and relationships. We will advise you about all of your options.
Contact Barnett Law Firm, PA today for your initial estate planning consultation.
For more information, see our pages on: Estate Planning Fees; Living Wills and Power of Attorney; Minor Children & Dependents; Personal Representative or Estate Executor; Pre-Marital Agreements and Domestic Partnerships; Probate and Estate Administration; and Wills and Trusts.