What is Estate Planning?
Estate planning involves safeguarding and protecting the well-being of your loved ones. We at Bruner Frank provide Estate planning because without an estate plan, settling your affairs may prove costly for your loved ones, even when there are no valuable assets.
Benefits of Estate Planning
Estate planning’s main objective is designating heirs for your assets. Without an estate plan, the Courts may decide who inherits your assets, a process that can rack up years and fees. Once more, the Court may not choose the child who bore more responsibility over the child who shouldn’t have access to cash.
Preparing for the inevitable is essential. To ensure your children or loved ones are cared for according to your wishes, you’ll need to create a Will to designate asset distribution and appoint a guardian for any minor children. If you lack a Will, the Courts will unfortunately intervene to determine the guardianship of the children.
An Estate Plan can eliminate family messes, prevent conflicts, and enable you to designate the best person to manage your finances and assets in case of mental incapacity or after your death.