Many people are under the impression that estate planning is only for the extremely wealthy. However, everyone has an estate, which consists of all their possessions like a car, home, bank accounts, financial investments and life insurance policies and even furniture and books. Estate planning is the process of making sure that your estate is disposed as you wish in the event of death or incapacitation. Estate planning law is complex, and planning is best done in consultation with professionals. Many reputable law firms have multiple practice areas, and have real estate, personal injury and car accident lawyers who also specialize in estate planning.
What is the purpose of estate planning?
Estate planning means deciding in advance how your property and possessions will be divided and disposed of after your life or if you are incapacitated. It allows you to specify the beneficiaries, and to control how your property will be used to benefit people or organi (more…)