The 3 Reasons Why People Do Estate Planning

55% of Americans do not have a will, and that is a great concern for many as some states has laws that designate how a descendant’s belongings are distributed after their passing. Even if you believe that your assets are minimal, there is still a need to actively participate in estate planning.

Depending on how the probate process operates in your particular jurisdiction, there may be extensive fees or taxes that could be eliminated by hiring a knowledgeable estate planning attorney.

Estate planning is highly important for asset protection when thinking about nursing home care, Medicaid qualifications, and exceeding insurance limits due to medical emergencies.

Family dynamics can be thorny, and having tangible directions of who will manage your assets and how to decipher your last wishes would bring any person peace of mind.

See Joel Johnson, The 3 Reasons Why People Do Estate Planning, Forbes, May 21, 2018.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.