There are many reasons for you to take advantage of practical estate planning.
For instance, did you know:

  1. A Will does not avoid probate.
  2. Probate files are public record and anyone can have access to your records.
  3. You and your property can be placed under the control of the probate court before you die.
  4. Your child’s trust in your will may not work when needed.
  5. You may not be able to sell jointly owned property without approval from the probate court.
  6. You still need to protect your assets against the possibility of disability or incapacity.
  7. The probate court, not your child’s guardian, will probably control your minor child’s inheritance.
  8. Your present life insurance might be unable to help your family.

An effective estate plan can assure your family of financial security after your death. It can reduce taxes, administrative costs and red tape. It can allow you to dispose of your assets as you wish, with consideration given to your heirs’ individual needs and desires.

It is not effective estate planning to put everything you own in joint title or draw up a will leaving everything to your spouse. You need to review your total financial position and project what estate taxes and probate costs you would pay if you altered nothing. Then consider the options to reduce these expenses and still accomplish your objectives