As we took this topic at first I understood what estates did and what they are supposed to do. The question that I didn’t understand was, Why is estate planning so important and what happens when if you do not have one? As I researched these questions I found out that when you start planning out your estate you are deciding the future of all of your assets. Deciding what you are going to do with those assets have implications for all of those who have been involved in your life. Being able to disperse your assets to those who have been important in your life is the main job when you start your estate planning. Giving your assets to those you will use them the most effectively and efficiently to help them achieve their goals. For my other question, there are many implications to not having an estate or will. The biggest implication is that without a will and or estate the hardship on your loved ones will be hard. Without dispersing your assets to your loved ones you are leaving them with nothing from your past and nothing to help them in the future.
Posted by Ken Smith
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