“To every man upon this Earth,
Death cometh soon or late…”
~Macaulay
While most do not want to think about death, it is the inevitable that everyone needs to face eventually. Unlike Aragorn in the Lord of the Ring, most of us cannot determine how/when to die. Therefore, Estate Planning is something we should all consider while we can. Especially only about 32% of Americans have a will set up, which can cause many issues later.
IF YOU DIE….
Without a will? Your estate will go to probate court. Probate court will freeze and then publish ALL your estate for everyone to complaint. Look at singer Prince Roger Nelson, who died without a will in 2016. Let’s just say his estate lawsuit is still ongoing in 2024.
With a will? Still need to go to probate court. Hope that after at least one year, the court will still enforce according to your will….
Estate Planners will always hope for the best, and prepare for the worst. To avoid probate, to keep privacy, to accommodate special needs, and to avoid further court cost, please consider using different types of Trusts:
- Revocable Trust: To avoid probate. Simplest and easy to modify.
- Asset Protection Trust: Saving on estate tax, or accommodating children from different marriages.
- Irrevocable Trust: Accommodating special needs..
Please contact me to schedule a free 15-minute consultation regarding estate planning.