Like most people, you worked hard during your life to earn a good living and accumulate assets that provided you with a comfortable lifestyle. You were prudent and would never have any thought of owning a house or driving a car without insurance. You also didn’t invite government involvement into your affairs. If you can relate to these comments, then you will also appreciate the value of having a “proper estate plan”.
In simple terms, a “proper estate plan” is like an insurance policy that will continue protecting your assets. If you don’t provide written directions regarding your assets or important matters like custody of minor children, the state will make them for you. An estate plan allows your keepsakes and valuables to go to the parties you select and not be decided by a court or left to chance. It could also mean that your wishes on who will take responsibility for your minor children or what succession plan you want to be followed for your business are what actually
happens. The goal is to make sure that your personal instructions for all matters are known and honored.
One of the greatest gifts you can provide your family is to create a proper estate plan with specific directions on all those things you hold dear. Avoid the emotional drama that can arise when the cold and impersonal rules established by a state statute are implemented. Even if your spouse or children are the only parties you want to receive anything, they may have to wait extended periods of time while a court-appointed administrator goes through the costly and laborious process of probate. These are matters of importance and should be determined by you alone.
Avoiding probate and minimizing or even eliminating estate taxes is another goal of a proper estate plan. The exceptionally qualified attorneys at Evans & Mullinix are the answer to
providing you professional guidance in preparing an excellent estate plan. They will review everything, provide multiple options and help you achieve your desired result. All of your personal assets, including stocks, bonds, personal residence or a vacation home need to be considered in order to properly convey them to your heirs. If not done, the state is ready to jump in with their own version of asset distribution, without a written plan.
Imagine what would happen if that “crazy cousin” suddenly had a legal right to a portion of your stocks, bonds or business because you didn’t eliminate that chance by doing something as simple as creating a will. Why would you want to pay any percentage of your estate to some unknown attorneys, appraisers, probate court and their fees, IRS or other parties merely because you took no action and allowed it to be controlled by the state laws? This is ALL avoidable.
If you have minor children there is no more important responsibility than to assure they are in the custody of someone you absolutely know will love and care for them properly. A good estate plan ensures that what you put aside for their needs will be protected and used just for them.
An estate plan can be relatively simple and cost-efficient or complex depending on a variety of factors involving you’re extent and type of assets and other factors. But it also can lower or even eliminate various forms of taxes. Your loved ones will benefit from this by saving time, money and the emotional trauma that results from repeated legal proceedings to administer your estate. It will be a final gift to them eliminating these issues.
For nearly 50 years the experienced professional estate planning attorneys of Evans & Mullinix have been providing guidance and advice on estate planning. They are recognized in the legal community for their superior knowledge and skill. That is why they regularly are invited to be a speaker at various seminars for continuing legal education forums for other attorneys.
When they meet with you they will listen and understand what you want to be done and then provide a course of action that meets your needs and budget. The estate plan will be what you need and remain confidential until it is needed to comply with your directions.
The tangible and intangible benefits of creating an estate plan with the professionals at Evans & Mullinix will provide you peace of mind knowing that it is done. Start the process by contacting them today!
