Benefit Of Estate Planning - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

Benefit Of Estate Planning

Description:

Without an estate plan in place, your family will get less and it will take them longer to get it. This means your loved ones will be left in limbo and might end up without enough money to pay bills and other living expenses. It’s not uncommon for families with an unexpected death to nearly falling apart due to the financial strain in the weeks, months, and years to come. Contact with an expert estate planning attorney, who will make sure that your family is provided for and not left to face financial ruin once you’re gone. Visit - – PowerPoint PPT presentation

Number of Views:3

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Benefit Of Estate Planning


1
BENEFIT OF ESTATE PLANNING
  • Reduce Avoid Estate Tax When Possible

2
INTRODUCTION
  • If you're looking for help putting together your
    estate plan, you've probably considered using an
    estate planning attorney. But what does an estate
    planning attorney do and what are the benefits?
  • Estate planning attorneys, also referred to as
    estate law attorneys or probate attorneys, are
    experienced and licensed law professionals with a
    thorough understanding of the state and federal
    laws that affect how your estate will be
    inventoried, valued, dispersed, and taxed after
    your death.

3
Provide For Your Immediate Family
  • The estate plan will provide enough money for
    your surviving spouse to continue to care for the
    family. If both you and your spouse pass, an
    estate plan will name appointed guardians to care
    for your children.
  • Ensure property goes to the right beneficiaries.
    Your estate plan will outline exactly where your
    assets are to go in the event of your death. This
    leaves no questions to be resolved by the courts
    or cause for family discord.
  • Minimize the expenses and taxes. When you take
    care to create an estate plan, you should be able
    to keep the cost of transferring any property to
    your named beneficiaries.

4
Keep Children Out Of Child Protective Services
  • As unpleasant as this next thought is going to
    be, take a minute and ask yourself what would
    happen to your kids if you and/or your spouse
    were involved in a major car accident on the way
    home from work tomorrow?
  • Why let your kids end up in Child Protective
    Services while the courts sort out who will serve
    as their guardian? Do you really want a judge to
    decide who will raise your kids without any input
    from you or your spouse?
  • Good estate planning lawyer will make sure that
    your family is provided for and not left to face
    financial ruin once youre gone.

5
Minimize Your Expenses
  • Do you know where most of the money goes when
    people dont have a good estate plan? Attorneys
    fees and court costs.
  • When you die without an estate plan (and without
    a living trust, in particular) the courts are
    forced to handle everything the distribution of
    your property, the guardianship of your children,
    the dissolution of your business. This is known
    as probate, and it gets very expensive easily
    exceeding 10,000 for even modest estates. Thats
    money your family and kids couldve used for
    living expenses and other bills, but instead,
    its just lining the pockets of your attorney.

6
Get Property To Loved Ones Quickly
  • You have two options here. Option 1, your family
    has to wait anywhere from 3-9 months to get
    anything after you die. Option 2, your family
    gets the money they need to pay bills, to pay for
    your funeral, to pay for your outstanding medical
    bills, and to pay for anything else they need
    right away and without delay.
  • Which one would you choose? Good estate planning
    lets you avoid the big delays that can put a real
    financial strain on your family.

7
Save Your Family From The Difficult Decisions
  • Can you imagine trying to decide when to pull the
    plug on your spouse who is in a coma or similar
    condition? Or deciding how his or her remains
    should be handled?
  • Those are heartbreaking decisions that no one
    should have to face. You can ease this burden by
    thinking about this kind of thing in advance and
    planning ahead for it. You can specify in your
    estate plan how you want end-of-life care to be
    handled and what kind of disposal arrangements
    you want to be made for your remains. And theres
    no one better to make those decisions than you.

8
Reduce Taxes
  • Benefits of estate planning also include reducing
    the taxes. Every single dollar that you pay in
    taxes is one less dollar that your family will
    have for paying bills and other expenses. There
    are numerous tax reduction strategies that you
    can use to keep as much money in the hands of
    your family as possible. The key is to start tax
    planning sooner rather than later and
    definitely not to wait until its too late

9
Conclusion
  • Without an estate plan in place, your family will
    get less and it will take them longer to get it.
    This means your loved ones will be left in limbo
    and might end up without enough money to pay
    bills and other living expenses. Its not
    uncommon for families with an unexpected death to
    nearly falling apart due to the financial strain
    in the weeks, months, and years to come.
  • Contact with an expert estate planning attorney,
    who will make sure that your family is provided
    for and not left to face financial ruin once
    youre gone.
About PowerShow.com