Forbes expertly tackles the benefits to creating an Estate Plan in their article linked below, entitled “6 Reasons Why You Should Have A Estate Plan.” According to Catherine Schnaubelt, director and senior wealth strategist of CIBC Private Wealth Management, these reasons are:
1. To Plan for Your Own Needs
2. To Choose How You Dispose of Your Wealth
3. To Minimize Transfer Taxes
4. To Incorporate Philanthropic Planning
5. To Protect Family Wealth
6. To Prepare Future Generations to Receive Wealth
In truth, all of the above mentioned reasons can become issues without Estate Planning documents in place upon your demise. To avoid missing out on creating your perfect legacy, it’s best to seek the advice of an attorney as to how to protect your assets.
Danna & Associates, PC has specialized in Estate Planning and Elder Law for over 24 years, creating numerous Estate Planning documents for a variety of individuals. Call 718.273.0300 for your free consultation today!
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