As you get older and reach new milestones in your life, like getting married/divorced, purchasing a home, starting a business, having a baby, etc. you may want to consider reviewing your current estate plan or implementing one if you do not already have one. Let’s discuss a few reasons why you should consider having an estate plan in place.
An estate plan can help protect your assets from unnecessary taxes, probate costs, and potential creditors. This can help ensure that your wealth is preserved and passed on to your heirs according to your wishes.
An estate plan can help protect your family by ensuring that your assets are distributed according to your wishes. This can help prevent family disputes and ensure that your loved ones are taken care of after you pass away.
An estate plan can help ensure that your healthcare wishes are followed in the event that you become incapacitated. This can include designating a healthcare proxy or creating a living will.
If you own a business, an estate plan can help ensure a smooth transition of ownership and management after you pass away. This can help preserve the value of your business and protect the livelihoods of your employees.
Peace of Mind
Perhaps most importantly, creating an estate plan can provide you with peace of mind. Knowing that your assets will be distributed according to your wishes and that your family will be taken care of can provide a sense of comfort and security.
In short, creating an estate plan is a smart move for anyone who wants to protect their assets, their family, and their future. Your future self and your loved ones will thank you for it.
Looking at taking action forwards your financial freedom? Book a complimentary no-obligation call today!
Meyers Financial Services Inc. DBA Sonoma Valley Wealth Management does not provide legal advice. Please consult a qualified attorney for assistance with legal issues such as wills and trusts. The information related to estate planning is general in nature and does not constitute legal advice or a solicitation for any such service.