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, planning involves the process of planning for one’s incapacity and/or eventual death. But don’t be fooled, 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.
Avoid Probate
While many in the legal profession believe probate is a fundamental and necessary part of the estate distribution process, others feel it should be avoided at all costs, citing that it’s outmoded, slow, expensive and simply unnecessary in today’s “information age.”
Estate Planning
Today there are a multitude of legal instruments and tools that can be used for 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
The Importance of Estate Planning for Business Owners
Summary: Almost everyone has a significant need for an estate plan. Business owners, however, have an exceptionally high need for estate planning. As a business owner, a failure to engage in proper and complete estate planning won’t just potentially cause harm to your...
A Legacy of Values | How Your Estate Plan Can Reflect Your Faith
Summary: For people who practice a religious faith, the teachings of their religion may have a substantial impact upon the way they approach estate planning. Whether one is Catholic, Protestant, Jewish, Muslim or a follower of another faith, the deeply ingrained...
Keeping Track of Your Documents | Another Ingredient to Successful Planning
Summary: There are several steps that go into truly complete estate planning. Once you’ve decided upon your plan goals, retained counsel and executed the necessary legal documents, you’re still not finished. In order to save your loved ones (or the other people who...