There is a lot more to it than people might realize. It’s usually balancing several things. What are the family dynamics? What do you want this plan to accomplish for your family? Do we need to think about any tax issues that might be involved depending on what you own and the composition of your estate? We want to think about if you had a health event in the future, what does that going to look like? How do you want to be cared for? How are we going to pay for that care? And then how do you want to pass things onto your family? And how can we also make sure your plan really reflects you? It’s not just what’s in your bank account, but you are doing this for the people you care about the most, so what can we do to make sure that plan really reflects you and your family?
You can learn more about estate planning by downloading our free book, Estate Planning Pitfalls: The 12 Most Common Threats to Your Family and to Your Estate.