3 Reasons to Estate Plan NOW
There are many reasons why you should complete your estate plan, but here are my top three reasons that seem to get the ball rolling.
You have kids. Without a trust, your kids are not able to access money (even if they are the beneficiary of an insurance policy) until they are 18. Yes, their guardian can petition a court — but wait! Who’s the guardian if you didn’t create an estate plan? If they’re under 18 and you have a trust, then your financial agent can ensure your kids get access to the money they need whenever they need it.
You have more than $184,500 in assets, including the value of your house and life insurance payout. If you have less than $184,500 TOTAL ASSETS, you can avoid probate. If you have $185,000 in assets and you don’t have a trust, then your estate goes through probate.** Your fee for $185,000 in assets is $6,550 for the executor AND $6,550 for the attorney - by state law. So that’s up to $13,100 in fees (AKA more than an attorney costs.) Oh and if you own a house in California, it’s probably worth more than $184,500. The law doesn’t care that you have a mortgage. **Also, to touch on this, yes, your estate goes through probate if you have only a will OR no will at all.
You want someone to be able to make financial or healthcare decisions for you if you’re ever incapacitated without going to court. Make your loved ones’ lives easier with a power of attorney. Yes, even your spouse needs one!
So now, schedule an initial consultation (complimentary, no obligation, and confidential) NOW and let’s get all the above things resolved now.