What Estate Planning for a parent Should Do AND WHY PERSONAL LEGAL PLANNING IS so IMPORTANT





By Stuart Williams | Estate Planning Lawyer



If you are a parent, your estate plan should be a road-map your family can follow if something were to happen to you. Your estate plan should take care of your spouse and children, and transfer the most value possible to them from the things that you own. In order to do this, a parent's estate plan should include protection for the assets their children will inherit, avoid the hassle and expenses of probate court, and maximize the value of what you will leave to your family.


We believe that your (1) marital history, (2) the age of your family members, (3) the types of assets you own, (4) your retirement savings, and (5) whether you’d like to maximize and protect your child’s inheritance from the "adult" problems they could have some day (like divorce, debt collection, lawsuits, or other concerns) - make your road-map unique.


When these factors are examined for your personal legal planing, we are able to identify concerns you should avoid, as well as financial opportunities you can exploit to your family's benefit.


When these factors are not addressed — the value of what loved ones inherit can be significantly harmed by the expenses of probate, taxes, and a failure to capture what are truly "once in a life time" financial opportunities.


At Family Wills & Trusts, PLC you’ll work with a personal planning lawyer whom you’ll come to know on a first name basis. You’ll be able to call when you have questions and we’ll be here to answer your family's questions someday too.