Estate Planning – What Is It and When Should I Do It

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Estate planning is the preparation for one's incapacitation. You should do it now, regardless of your age or health. It is important for each of us to recognize that substantial wealth or assets are not a factor in determining the need for estate planning.

Question any estate litigation lawyer why he has a job and he'll tell you that poor or zero estate is the main source of his income. Unless your goal in life is to provide the estate litigation attorneys a living, I suggest you embark on your estate planning adventure today. You can have a look at the video at https://www.youtube.com/watch?v=qwb9N5lDCsI to get more information about the estate planning.

The basic components of estate are: making a will, minimizing taxes by setting up trust accounts for beneficiaries, naming a guardian for living dependents, appointing an executor to enforce the terms of the will and establishing a durable power of attorney to direct other assets and investments.

There are attorneys, in fact, entire law firms specializing in estate planning, professional associations of estate planners. There are many resources on the Internet that can be of value in helping you locate an estate planner in your area. Keep in mind that estate and probate law vary state to state, so prudence dictates that you select an estate planner from your home state.

Get off your hands and start the process! Your family will thank you for it, you'll sleep better and except for updating things as your life circumstances change, you will have this chore behind you!

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