19 Estate Planning Benefits
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by: TravisLawCA
Word Count: 3378
Date: Wed, 8 Jun 2011 Time: 9:15 AM
There are no drawbacks to estate planning, unless you consider paying an estate planning attorney a drawback. But, you’re sure to get your money’s worth and save money in the end. While there are likely a zillion estate planning benefits, we’ve outlined 19 of them here.
1. Estate planning will enable you to choose a guardian for your children should something happen to you (and your husband or wife if married).
2. Estate planning provides peace of mind so that you can sleep better at night. You know that you and your family are protected.
3. Estate planning keeps the decisions about your care under your control and makes sure that you maintain control your own property.
4. Estate planning gets you organized.
5. Estate planning helps to avoid family feuds.
6. Estate planning enables you to authorize trusted loved ones to act on your behalf when you are unable to do so yourself.
7. Estate planning helps to avoid court intervention.
8. Estate planning, properly done, will enable you to avoid probate and assist you and your spouse in understanding how to title your property to your best advantage.
9. Estate planning, properly done, can save federal estate tax dollars.
10. Estate planning can help you to gift advantageously for you and for your beneficiaries.
11. Estate planning, properly done can allow your wealth to be passed from generation to generation in tax advantaged ways.
12. Estate planning, properly done, can protect your loved ones’ inheritances from being seized by creditors.
13. Estate planning can assist you in your goal to become an organ donor (or not to become an organ donor if that is what you wish).
14. Estate planning can allow you to make end of life directions to your loved ones. You can avoid being hooked up to machines which will artificially extend your life if it is not your wish to do so.
15. Estate planning properly done can make a big difference in saving and extending your retirement money.
16. Estate planning will give you information as to whether you need a plan for paying for long term care.
17. Estate planning can provide for your pets after your death and ensure that they are not abandoned or taken to an animal shelter.
18. Estate planning, properly done can assist in avoiding having a loved one disqualified from receiving governmental assistance.
19. Estate planning, properly done, can best ensure that you assets when inherited by your beneficiaries won’t be used to make a beneficiary’s drug, alcohol, or gambling addiction worse.
About the Author
Experienced estate planning attorneys Long Beach CA of The Law Offices of H. Brooks Travis, PC. offers estate planning and business planning resources to residents of Long Beach CA. To learn more about these free resources, please visit www.estate-planning-orange-county.com today.
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