Estate Planning with Legacy Assurance Plan
It’s important to understand that the term Estate Planning is universal in its meaning. It literally has various meanings to different people based on unique circumstances or experiences. Nonetheless, at its most basic, estate planning involves the process of planning for one’s incapacity and/or eventual death. But don’t be fooled, estate planning involves much more than just having a will. A will is simply not enough to protect you from the legal processes of probate, guardianship and Medicaid qualification.
Today there are a multitude of legal instruments and tools that can be used for estate planning: wills, living wills, powers of attorney, trusts, deeds and beneficiary designations, to name a few. When you create a plan with Legacy Assurance Plan, you get to decide the best way to carry out your legacy.
Last Will & Testament
Nationwide, approximately 60-70% of Americans have no estate plan. No last will and testament, no trust, no legal documents whatsoever. If you are one of the 30-40% that have an estate plan, chances are you have only a simple Last Will and Testament. You probably also think that’s sufficient for your situation. However, is it?
Posts from our Blog
Summary: Like almost any legal document, there is confusion and misunderstanding that sometimes surrounds the legal documents known as power of attorney documents. By educating yourself about what these documents can (and cannot) do, you can develop a greater...
Summary: Court cases can teach a lot of useful lessons about planning our estates. A recent Georgia case about a will executed by a man with schizophrenia reminds all of us that, if you have non-traditional planning goals (like excluding family members from your plan...
Radio Financial Advisor’s Misconceptions Reveal Common Errors People Make about how a Living Trust Works
Summary: There are a lot of misconceptions people have regarding living trusts. Sometimes, even experienced (and well-known) financial planners can hold and speak some of these misconceptions. By looking closely at what the law allows you to do with a living trust (or...
Estate Planning: 5 Important Questions
0 of 5 questions completed
You must specify a text.
You must specify a text.
You must specify an email address.
You must specify a number.
Take a few minutes to test your knowledge about the importance of estate planning.
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
0 of 5 questions answered correctly
Time has elapsed
You have reached 0 of 0 points, (0)
Question 1 of 5
A will protects you from the legal process of probate.Correct
A simple will CANNOT protect you from the legal process of probate, guardianship or Medicaid if you need nursing home care.
Question 2 of 5
Court costs, attorney’s fees and other probate expenses can consume how much of your entire estate?Correct
Question 3 of 5
The probate process is always private, thus protecting your financial information from the public.Correct
The process of probate is completely open to the public.
Question 4 of 5
What percentage of Americans DON’T have an estate plan?Correct
Question 5 of 5
What is the typical timeframe for the probate process?Correct
During this time all your assets are frozen thus preventing your heirs from your inheritance.Incorrect
The process can take 1+ years. During this time all your assets are frozen thus preventing your heirs from your inheritance.
Importance of Planning
Estate Planning is one of the most important aspects of ensuring your care and your assets are handled in a manner of your choosing. It is too late to make these types of decisions once you are incapacitated or no longer here. Without the proper planning those you care for will be left to prove your wishes to a court. If you have someone in your life that physically depends on you for everyday activities, what will happen when you are no longer here? Wouldn’t you rather know that they will be taken care of? Request your copy of “Importance of Planning Guide” today for more information.