No matter your age, having an estate plan is place is essential. What are your concerns about end of life care? If you have assets, how do you want them distributed? Are you passionate about a charitable foundation? By having a will in place, you can minimize the tax dollar impact and insure your heirs receive the maximum amount from the estate. Loving families, can turn ugly disputing over these matters. Without estate planning, your assets can be tied up in the courts for years. Estate planning can simplify your wishes.
There are different types of wills and estate planning in rapid city SD that can assist with end of life care. Who will be your guardian if you are incapacitated and unable to speak? Do you want heroic measures to be taken? How do you feel about being hooked up to machines? Who will express your wishes when you cannot? Putting them on paper will make sure you get the care you want or do not want, with someone you trust being your voice, when you cannot speak.
Assets can be big or small, or not obvious. Listing assets out and who you want them to go to makes distribution simple once you are gone. Do you have a special collection that your best friend has always admired? Putting it in a will can make sure they get it and not a sibling who could not care less about it. If you are a supporter of a charity, who will speak for them, when your voice is silenced? What about college funds for children? Again, having it written down can make sure your money and treasured items go where you want them to go.
An estate caught up in probate court, due to lack of planning, can waste time and money. Lawyer fees, taxes, wage loss will be taken from the estate. Oft times, Uncle Sam and attorneys will benefit from your passing more than your loved ones.
Estate planning can be uncomfortable to think about or speak out loud. There are many attorneys who specialize in wills and estate planning in Rapid City, SD. Having a clear plan written out can save a lot of heartache and money. A little time and money spent today, can spare your loved ones a lot of time and money during a difficult time.
