- Avoid necessary guardianship/ conservatorship proceedings in the case of incapacity.
- Designate who will care for your children in your absence.
- Avoid family fights/ court battles in your absence.
Many people think that for estate planning to be worthwhile, they need to have a taxable estate or significant value to worry about, however those people tend to overlook the greatest value that estate planning can have for them. For estates under the current taxable limit (a $5 million dollar exemption amount this year) the greatest benefit of estate planning comes from peace of mind. For instance, a proper estate plan can:
Trust Meme Blog
Trust Meme is written and maintained by the member attorneys at Inter Vivos, PLLC as a resource for families to better understand the importance of proper planning and their planning experience.