A common misconception is that estate planning is for the wealthy, with an abundance of assets, including retirement plans, life insurance and annuities. However, the truth is that everyone over the age of 18, regardless of wealth, socioeconomic class or marital status should have a basic estate plan designed for their specific and unique situation, to ensure their wishes are known and followed, to avoid disputes, to ease the administrative and financial burden on their family and friends, and to minimize the probate process and its expenses and delays.
A basic estate plan includes:
Of course, there are more complex plans to be considered for those whose circumstances require additional planning, but a basic plan is advisable for every individual. Contact a knowledgeable estate planning attorney to discuss the best options for you and your family. The Strong Firm P.C. is available to consult with you today!
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