What is the reason for an Estate Plan and why do McClanahan Powers Attorneys take this endeavor so seriously?
A common expression among estate planning attorneys is failing to plan is planning to fail. An Estate Plan helps ensure that every single thing that you have ever earned or collected in your entire life is being used to care for and protect the people you care most about. Estate planning attorneys use their knowledge and expertise to devise strategies and craft documents that protect their client’s most precious people and possessions.
The first step in estate planning is to understand the essential documents involved. For starters, estate plans are centered on a principal estate planning document. This document typically consists of either a Will or a Revocable Living Trust, often simply referred to as a “Trust.” These documents come in various shapes and sizes; however, in one form or another, most individuals use either a Will or a Trust as the centerpiece of their estate plan, which will direct the majority of assets in their estate to their beneficiaries heirs.
Attorneys at McClanahan Powers can assist clients in determining what principle document is suitable for them, whether that is a Will or a Trust. They can also help you decide whether or not any other estate documents would be beneficial, such as a Durable Power of Attorney or a Healthcare Directive. For some people, it may be as simple as explaining and educating them about their options so that they can make an informed decision. The vast majority of McClanahan Powers attorneys are willing to donate their time to clients by offering a free consultation to provide clients with some legal guidance and an understanding of what options are available to them.
Our attorneys take estate planning very seriously and believe that they must educate people about estates, options, and how best to protect their loved ones. There are many issues and questions to navigate in estate planning, whether it’s inheritance tax, estate tax, why a will, why a trust, or why a power of attorney. However, the best way to understand is by learning about these documents. We hope that our estate planning blog will assist you in learning about the importance of estate planning and understanding the records and options available for your use.
“When planning for a year, plant corn. When planning for a decade, plant trees. When planning for life, train and educate people.”