Now is a perfect opportunity to show your family you love them this Valentine‘s Day by creating your will and estate plan. If you haven’t put a plan in place yet or it is out of date you probably know you need to, but life seems to get in the way. One of the the best gifts you can give your children or other family is a completed, efficient and up-to-date estate plan. Your passing will be one of the hardest and emotional times of their lives and by planning ahead you will allow them to grieve on their own time without worrying about the legal and financial obstacles that are present when the plan is non-existent or out of date. The more you take care of now, the less they will have to do.
Proper Estate Planning Can:
- Ensure that your assets go to the beneficiaries of your choice, not the court’s choice.
- Allow you to decide how and when things happen and who will be in control if you can’t be.
- Resolve any potential family fights or arguments over your belongings.
- Make sure that improper tax planning does not provide an undesired surprise.
- Reduces the time and minimizes or eliminates the expense of probate or other estate administration.
- Lessen the burden and costs of final arrangements.
At NC Planning, we always encourage open communication as an integral piece to proper estate planning. That communication is sometimes with your attorney, with your family and loved ones, with your other advisors or with your appointed fiduciaries.Communicating is also key after you have an established plan. It prevents surprises by allowing you to let your loved ones know what their role is under your plan.