- posted: Jan. 08, 2013
Estate planning is not just for the wealthy. Estate planning is for anyone wants to control what happens to their property and money when they pass away, as well as protect it during his or her lifetime. A Boise estate planning attorney doesn’t only assist you in planning your estate, but also in prioritizing your goals and concerns around your property, money and heirs.
Pros of Having an Estate Plan
- Having a set estate plan ensures your financial, family and health goals are carried out according to your wishes when you die or are incapacitated.
- You may give gifts tax-free to your heirs and loved ones.
- Your minor children will be protected.
- An estate planning attorney can help you sort out issues of wills and trusts and the tax benefits and drawbacks of each.
- An estate plan also provides durable power of attorney, in the event you are disabled.
- You may also develop a college fund with your estate plan.
Cons of Not Having an Estate Plan
- Dying without a will (intestate) can cause family strife, confusion and added expense in the form of probate.
- Lack of an estate plan can cause your assets to be inherited by undesirable persons
- Property can pass directly to people who are unable to manage it, such as minors or disabled children or adults.
It’s never too early to speak to a Boise estate planning lawyer about estate planning. Do yourself and your heirs a favor and make it easier on them when you are no longer able to make your own decisions.
Foley Freeman Attorneys at Law is experienced in estate planning, as well as trust and wills creation. Put your future in our hands.