One of the many services that we at Vohora LLP can provide is expert assistance with estate planning. In our experience, many people get a little uncomfortable when the topic of estate planning comes up, as they know it involves things like making a will and generally planning for the end of one’s life. We want to help our clients overcome that discomfort so that they can start making these important plans, so we have put together this article on the key information you need to know about estate planning.
- Everyone Needs an Estate Plan- The first thing you should understand about estate planning is that everyone needs to make an estate plan. It doesn’t matter if you don’t have a lot of assets, if you’re young, or if you don’t have close family members– you still need to make a plan for how to distribute the assets you do have after you are gone.
- Estate Planning is More Than Just Distributing Assets- Another thing that you should know about estate planning is that it involves more than just deciding who gets what. It can also let you prepare for possible incapacity, which can include appointing someone to act on your behalf in the event that you are no longer able to act on your own. In addition, it can help you take charge of the legacy that you will leave behind.
- Estate Planning Can Help You Avoid Probate- A third thing that you should know about estate planning is that it can help you avoid or bypass the probate process, which would increase the amount you are able to pass down to your beneficiaries.