Think estate planning is just about drafting a Will? Think again.
Estate planning is about much more than directing where your assets should go after your death.
Here are the 8 most common reasons clients give for seeking out estate planning expertise:
67% to avoid probate, the court-supervised legal process for administering the estate of a decedent
65% to avoid chaos/discord among family beneficiaries
38% to protect children from mismanaging their inheritance
25% for asset protection for themselves or beneficiaries
22% to minimize estate taxes
16% to reduce the likelihood of estate litigation
14% due to concerns about financing health care or long term care
13% for business succession and exit planning
And here’s a 9th reason: you can either plan ahead for what happens to your family and your assets if you die or become incapacitated, or you can do nothing, and let the government decide for you.
Why don’t you ask your loved ones which option they prefer?
Survey data source: WealthCounsel, an organization of estate and wealth planning attorneys