ESTATE PLANNING
Planning your estate can be one of the most rewarding and mind-easing experiences of your life, as you take your hard-earned resources and determine how best to divide them among those who you hope will outlive you. At the same time, you want to leave as many of those resources in the hands of your beneficiaries rather than with the IRS and that is one of the key reasons why it is absolutely essential to write a will and other estate planning documents – and perhaps to even restructure your investment portfolio – in a way that will accomplish your objectives. While the death tax is currently declining and will do so until 2010, when it may be either wiped out entirely or reinstated, planning your estate in light of tax considerations is critical to leaving the largest estate possible to those who you wish to bless with the gifts of your success.
While the unpleasant thought of our own deaths (hopefully well down the line) may keep us from taking the initiative to plan our estates, you should not let that one obstacle be an impediment to taking care of those whom you love.
And writing a will is essential not only in the event of our deaths but in the event of our disability. How will we take care of the nursing care expenses that can take so many of our personal resources in the event we are the victims of a long and debilitating illness? Are there ways to ensure that we are taken care of without our estate being taken entirely?
We also need to consider whether we need a Living Will to address how we wish those around us to deal with the issue of complete incapacity and the need for life support. We should not leave those we love with such a difficult question but should put them at ease in knowing our wishes in advance.
Berger Law Firm will help you plan on how to deal with these eventualities, address the important tax consequences, and help put your minds at ease. Stop in for a free initial consultation to talk about your estate and meeting your objectives.
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