For some clients, estate planning can be confusing. Many individuals are not sure of where to start, how to structure their plan, what decisions need to be made and when to do it all. The key is to make sure you understand the rules and make decisions based on your personal situation, not what you hear from a friend or neighbor. Your situation is unique and you should have a plan that fits your personal and individual desires.
Many of our clients come from other clients and they often presume that what worked for their friend, neighbor or co-worker will work for them. They have similar incomes, similar family structure so it seems like a similar plan is what they need.
Sometimes the answer is yes and sometimes the answer is no. Your life, situation and desires are unique to you and what may work for that person may not work for you. Their plan may be more complex than what you really need or it may fail to take care of the key concerns you have for your beneficiaries. Making sure you discuss and implement the right plan for YOUR situation is the key to proper estate planning.