Estate Planning

By Chris Keeler


There are several elements in the estate plan. A few of the core pieces include you will, power of attorney, health care proxy and a trust. These elements help to protect you and your family in the event of sickness or death. You will have a handle on your assets and how they are to be distributed or maintained. When planning you must keep in mind tax laws, both state and federal. There are many ways to find tax favorable options in planning. Having a well thought out plan makes it easier on family and friends in the event of death and can avoid long legal issues to settle a non planned estate through probate. When going into plan your estate have your goals and objectives in mind as this makes it easier for an attorney to help you plan and draw up your estate plan.
IT is important for your plan to be in place to help both your children and their children. In the event of sickness it can put a strain on family who may have to take care of you. A plan in place can avoid this. If you are taking care of an elderly parent make sure to keep your finances in check first before worrying about the parent. Most times it takes a death or illness for people to realize the importance of planning. The earlier the better.








http://money.cnn.com/magazines/moneymag/money101/lesson21/

http://www.nmfn.com/tn/netserv--personal--page_estate_plng_intro

http://www.smartmoney.com/personal-finance/estate-planning/new-strains-for-the-sandwich-generation-21298/