Estate planning isn't about how much money you have...
It's about protecting what you have for you, during your lifetime, and for those you love after you’re gone. It ensures what you have gets to the people you love, the way you want, when you want.
It involves working with you to meet your goals when it comes to managing your assets, making medical decisions, making legal and financial decisions, and making decisions regarding your loved ones that are dependent on you.
Traditional estate planning keeps you in control of how your your life when you are well. It puts instructions in place to keep you in control of your life if you become incapacitated. It incorporates your voice to keep you in control of who gets what and when after you die.
Properly using estate planning tools such as medical powers of attorney, financial and legal powers of attorney, living wills/personal care plans, wills, revocable living trusts, and irrevocable trusts can allow you to stay in control of your estate and decide who benefits through all phases of life and into death.
Traditional Estate Planning Goals:
Traditional estate planning goals generally focus around making sure you retain the ability to control and protect while you are alive and well, alive and disabled or incapacitated, and upon your death.
Traditional estate planning upon death generally uses wills and trusts to meet client goals. Common goals in traditional estate planning include, but are not limited to:
Minimizing probate costs
Naming personal representatives
Naming agents to make legal and medical decisions for you
Naming guardians for minor children
Naming guardians for family members with disabilities or special needs
Making outright distributions of assets
Excluding specific people from the benefit of the estate