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: An estate plan is an important piece of planning that almost everyone needs. Your legacy is too important to leave open to uncertainty and allowing uncertainty to enter the picture when it comes to your estate can lead to stress, expense and perhaps the need...
Summary: Whether it is a court ruling or a newly enacted statute, changes in the law are one of many good reasons why you should get an estate plan review periodically. These new laws could mean making changes to comply with new demands, or they could mean making...
Summary: An estate plan can accomplish many major, common goals like avoiding probate, saving on some taxes and providing for a surviving spouse. But, if your objectives go beyond that, chances are your plan can help meet those preferences, too. With a carefully...
Estate Planning: 5 Important Questions
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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.
Learn more about Estate Planning