Instead of the IRS, Probate Court or a Nursing Home. Attend a FREE SEMINAR to Find Out How a Proper Estate Plan Can Benefit Your Family…

…Seating is limited so follow the link to reserve yours today!

http://www.sinclairprosserlaw.com/local/estate-planning-seminars.aspx

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Insurance Can Play an Important Role in Estate Planning – Attorney Colleen Sinclair Prosser

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

If you haven’t taken time to consider the use of an estate plan, you may have been unsure whether you actually need a plan.  The truth is most people do need a plan.  Without a plan, there is no protection in place for the future.  Take a look at the following 6 reasons why most people do need a plan.  If you have any questions, or if you’re ready to create your estate plan, contact an estate planning attorney.

• An estate plan is needed to protect family members and children. With a plan in place, individuals are able to have control over their future.  This includes having a plan in place so that family members are always cared for.  Many people choose to leaves assets behind for their loved ones, purchase life insurance to help pay for daily expenses, and choose a guardian for their minor children.  These are just some of the ways in which you can protect your family members.

• With estate planning, it’s possible to determine how assets will be distributed. Many people want to have control over how their property will be divided after their death. If you don’t want your state laws to determine this important detail, then you need to take the time to create a plan.  This gives you full control over your property and allows you to determine the inheritances that you leave behind.

• Estate planning makes it possible to plan for possible incapacity. Unfortunately, you never know when an emergency may happen.  Without a plan in place, you may not be able to get the help that you need to make decisions. With the right planning tools, you can outline important end of life decisions ahead of time, and can appoint trusted helpers to assist you with your financial and medical needs.

Take a look at our next blog post (part 2 of 2), to learn 3 more reasons you need an estate plan.  If you have any questions about the need for planning, or if you’d like to begin your estate planning affairs, consult with a qualified estate planning attorney.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.

Estate planning is very beneficial because it allows you to plan for multiple needs.  It’s important to think about your own personal needs as well as the needs of your loved ones.  If you’re just getting started with your planning, take a look at the following information.  If you have any questions about how certain estate planning tools work, meet with an estate planning attorney.

Do you have a family to protect?

Consider the future of your entire family.  Make sure that you’re able to protect your children so a responsible adult, of your choosing, is always caring for them.  In addition, consider your family’s future needs and expenses.  If you’re unable to provide income, you need savings, disability insurance, and life insurance in place, as applicable.

Are you looking to protect your own future?

You need to prepare for your own future with an estate plan.  Consider protecting yourself during possible illness and disability with powers of attorney, a revocable living trust, and insurances.  Be sure to research insurance options, such as disability insurance, life insurance, and long term care insurance.  Prepare for future retirement costs.

Do you want to make a difference in the lives of others?

You may have other planning goals that don’t relate to you or your family.   Consider giving back to your school or a favorite charity.  You may also consider gifting to others who have made a difference in your life.  There are many ways in which you make a difference in the lives of others.  Financial gifts, letters of appreciation, gifts of experience, and sentimental gifts are all appropriate for loved ones and good friends and neighbors.

Take the time to think about all of your estate planning needs and goals.  If you’re ready to commit to comprehensive estate planning, consult with a qualified estate planning attorney.

SinclairProsser Law, LLC is a member of the American Academy of Estate Planning Attorneys.