The Importance of Estate Planning

Planning for the Future

The Cost of Poor Estate Planning

You may think estate planning is only for the super-wealthy. The truth is, if you plan on leaving anything to your family, you need to plan ahead for it. With a proper estate plan in place, you protect your hard-earned money by making sure it gets into the right hands without being lost in transaction and probate fees, taxes or penalties. By clearly outlining your wishes, your decisions can remain private– unlike in probate where your information is exposed to the public. Most importantly, a good estate plan efficiently distributes money to your family, while minimizing the burden of legal proceedings that can create tension and disputes among relatives.

Tips for Estate Planning

There are quite a few things to consider when preparing to create your estate plan. First, you want to think about who your beneficiaries should be. Who do you want to leave your assets to and how much would you like them to have? To help you answer this, review your assets and determine your net worth. This will give you a clearer picture of how much you really need to account for. It’s helpful to research different types of plans that are available. Explore your options to determine what best suits your needs.

Another important step is getting your documents together. You’ll most likely want to prepare a Trust, along with additional legal paperwork to include in your plan. Hiring a professional will make the entire process go more smoothly. An Estate Planning Company will guide you and be available to answer questions along the way. This reduces unexpected surprises and keeps you from feeling overwhelmed by the experience.

Why You Should Hire a Professional

Estate planning is complicated. Laws and regulations vary by state and can change from year to year. You want to ensure that you are passing along your assets without losing a lot of money in the transfer. Various fees and taxes can apply, depending on the arrangement you set up. Professional advice will help protect your wishes and prevent the value of your estate from getting into the wrong hands; such as a divorced spouse, creditors or unpaid court settlements. Hiring an estate planning company will save time and money in the long run. A good estate plan puts your affairs in order now rather than setting your family up for an expensive (and often emotional) ordeal down the line.

Contact Alron Management, Inc.

Here at Alron Management, Inc., a wholly owned subsidiary of Alron Enterprises, Inc. we assist with estate planning & document preparation. Our document specialists make the preparation a smooth and easy process, and we’ll even connect you with an experienced attorney to review and execute your plan, ensuring it’s in compliance with state regulations and your wishes. Give us a call at 321-951-7626 or email [email protected]. We look forward to working with you!