When is the best time to plan your estate?
Estate planning is one of the most important actions you can take to protect your estate and the inheritance you hope to pass on to your heirs.
Taking the time to plan your estate ensures that you decide who receives what, and you can even stipulate when they’ll get it. A good estate plan can also help you minimize or even avoid probate fees, and in some cases your beneficiaries can even avoid paying estate taxes at the time of your death.
Estate planning can help you provide for disabled dependents or those with special needs, and it can also give you a way to encourage personal achievement by requiring your heirs to meet certain goals before receiving an annual distribution.
You can use your estate plan to protect you in the event of a disability, by creating a living will and a healthcare power of attorney. Your estate plan can designate guardians for your minor children and set up trust funds to provide for their futures.
Or… you could just leave all of these important decisions up to the courts.
Now, given that your estate plan can do so much to protect and provide for your family, why would you want to wait another minute?
Mr. Kraft assists clients primarily in the areas of estate planning and administration, Medicaid planning, federal and state taxation, real estate and corporate law, bringing the added perspective of an accounting background to his work.