Importance of Estate Planning

It is difficult to think about our eventual death, and harder still to make arrangements.  Most of us would not wish to leave those who are struggling without us the unpleasant task of unfinished business.  Estate planning sets the details into place and relieves relatives of having to worry about funeral arrangements and dividing up estate contents.

Funeral Arrangements
Having to choose things such as which coffin to buy or where to have funeral services are tasks many grieving survivors may find too overwhelming to handle.  Choosing these things yourself can give you peace of mind and allow your relatives to focus on celebrating your life rather than be bogged down in details.

Tax Planning
By carefully planning how your estate will be managed after you die, you can help substantially reduce the tax burden your heirs will have, meaning they will have a larger inheritance and the IRS will not.

Deciding Who Gets What
If you do not provide a will, laws dictate who inherits your estate.  While this is fine for many people, you may have specific heirs in mind, or want control over how much each person gets.  A proper will eliminates the ambiguity and puts you in control of your finances, even after you are gone.

Ability to Create Trust Funds
You can create a trust fund to provide for someone who is underage or to protect your property and assign it through the generations.  If you have a young child, you can choose to create a trust fund to care for that child through adulthood, including funds for college or a home if you desire.