An estate plan is a set of interconnected documents, contracts, and instruments that provide for the protection of your assets in the present and the efficient transfer of those assets to your family and heirs after you’ve passed away. Critically, these various documents work in concert to ensure that your property and assets are distributed according to your wishes. In short, an estate plan preserves your financial legacy.
Many people think that only ultra-wealthy people need estate plans. However, even small and mid-size estates will have valuable assets that require protection. An estate plan can help anyone that wants to direct the distribution of their assets to the right people, in the right way, at the right time.
Of course, as the size or complexity of the estate increases, so does the need for proactive estate planning to ensure that your assets are fully protected.