The Vital Importance of an Estate Plan

An estate plan is one of the most important documents you will ever create. Some people believe that all you need is a will. The truth is, a will is only the beginning. You really need a comprehensive estate plan to fully protect you and your heirs during the many phases of life. Tauber Law Offices can help you.

Many people also assume that developing an estate plan is something you do later in life. Others believe it is only for the wealthy. Both beliefs are incorrect.

It is critical that you create and complete a comprehensive estate plan to protect you and your family no matter what your financial status. And, frankly, the sooner the better. It is an unfortunate fact, that you never know when a tragedy might strike, causing a serious life-changing event or even death.

An estate plan is necessary to ensure that your financial and personal needs are taken care of by the people of your choosing and that your affairs are settled in an orderly fashion after your death.
For those who want to leave a family legacy we can secure these assets for the future generations with the least amount of interference in your current use of the asset.

A well-crafted estate plan should address a broad range of issues and provide the delegation of people you choose who have the authority to act on your behalf.

  • Who would take care of you and your affairs if you were incapacitated?
  • Who would handle your finances?
  • Who would make health care decisions?
  • How would these individuals care for you and your affairs?
  • What happens to your assets after you die?
  • How will assets be allocated among beneficiaries?
  • How do you avoid the cost of probate?
  • Do you need to place restrictions or protections over the inheritance for a loved one due to disability, poor money management, substance addiction, or unstable marriage?
  • Who would provide care for your minor child(ren) or child(ren) with a disability if you become incapacitated or when you die?
  • How would you like your child(ren) to be taken care of upon your passing?
  • If death taxes are an issue for you, how might you reduce your estate tax exposure?
  • How do you ensure your spouse is adequately provided for, while ensuring inheritance for your child(ren)?

Without a plan, persons not of your choosing may be placed in charge of your affairs. In addition, a guardianship may be needed where a judge makes decisions about your health care and finances that may be contrary to your desires. Your estate may also be unduly assessed costs that could have been avoided with an effective plan.

We will also guide you in creating a specific and customized estate plan – drafting such things as wills, trusts, durable powers of attorney, health care advance directives, funeral planning directives, and any other necessary legal documents.

Know also that every situation is different. There is no cookie cutter plan that works for everyone. That’s why at Tauber Law Offices, we listen carefully and study the proper documents fully so that you have optimum protection. We also schedule time to update your plan periodically so that it is always current.

The time to get started is now. Please contact us to make an appointment to begin the process. We have decades of experience with estate planning. Know you can trust Tauber Law.