Monday, October 28, 2013
- Consider creating a complete estate plan including both a will and a trust. This will allow you to save money on court costs and permit private distribution of assets as well as designation over who gets what.
- Make sure to revisit your estate plan. Over time, there can be a change in goals, preferences, and desires.
- Succession planning works best when done earlier rather than later to make sure the transition is smooth.
- Comprehensive estate plans can prevent family feuds and minimize risk making it less complicated for family members after the death of a loved one.
See Morgan Yuan, Four Reasons for Creating an Estate Plan , Wealth Strategies, Oct. 25, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.