“Planning is bringing the future into the present so that you can do something about it now.” ~ Alan Lakein
Estate planning is much more than just planning for what happens to your property after you die. Most importantly, it includes a plan for what happens to you when you can no longer make choices for yourself and what happens to those who depend on you for their support. A good plan involves strategic tax planning and may include philanthropic gifts as well.
When creating an estate plan, an individual must consider many issues, which necessitates asking certain important, basic questions, such as:
- What comprises my estate? What do I own? What are my assets?
- What is the fair market value of my assets?
- If I become incapacitated and unable to care for myself, who should make decisions on my behalf concerning my health and financial welfare?
- Who should manage my assets if I become unable to do so during my lifetime?
- Whom do I want to receive these assets?
- When do I want them to receive these assets?
- If necessary, who should manage my assets after my death?
- Who should be responsible for providing care of my minor children if I become unable to care for them personally?
- What are my wishes at death for my remains?
Everyone needs a well-formulated and well-drafted estate plan. To learn more about useful and important estate planning tools and techniques, contact the legal team at The Swenson Law Firm. We can assist you with all of your estate planning needs.
Make an appointment with an Attorney today. Call 916-333-0833.