Five reasons everyone should have an estate plan

Storms Law Office, PC

Picture1July 12, 2013

1.Avoid Probate – Some assets go through probate and others don’t.  Depending on your situation you may actually set up a simple trust (not as scary as it sounds), joint tenancy (shared ownership), payable on death accounts, and transfer on death deeds to real property.  Your relatives won’t even have to go to court to probate your assets if this type of planning is suitable for your needs.

2.Preserve Wealth – Full disclosure.  I charge at least three times as much to probate an estate than I do to put together a simple estate planning package.  Despite the common perception I believe estate planning is incredibly important for those who aren’t wealthy because it can help preserve wealth for your heirs by saving money up front.  Additionally, if you ever need medicaid to pay nursing home or at home health care costs which may exceed…

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