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Palm Beach County Estate & Probate Attorneys / Blog / Elder Law / What Are Some Overlooked Benefits of Estate Planning?

What Are Some Overlooked Benefits of Estate Planning?

Martin and Palm Beach County Estate Planning and Elder Law Firm

The large majority of Americans still lack comprehensive estate plans, according to recent surveys. In fact, it is estimated that more than 50% of Americans do not even have a basic Will, arguably the most well-known foundational document of any estate plan.

There are obvious reasons why most people would want to develop an estate plan, such as having our final wishes respected and wanting to make sure a spouse and children are properly provided for once a person is gone.

There are additional reasons for thoroughly documenting your estate plan:

  • Through the process of Incapacity Planning, you can name who will make medical decisions on your behalf, as well as who will manage your personal affairs, finances and business, should you become incapacitated.

  • Through the creation of trusts and other documentation in your estate plan, you can avoid the probate process for your beneficiaries after you have passed.

  • Fulfilling your personal wishes as to the disposition of your assets after you have passed and keeping your detailed estate plan updated to account for births, deaths, marriages and divorce.

  • Clear, legally sound and highly-detailed estate plans can greatly reduce the likelihood of estate-related litigation once you are deceased.

At Kitroser Lewis & MIghdoll, our attorneys and staff offer many decades of skilled, compassionate experience in helping clients develop the detailed, individualized estate plans to meet their needs, wishes and circumstances.

We help our clients create plans to meet their Elder Law, Will, Trust, Guardianship and Incapacity Planning needs as well as those of our other closely related practice areas.

We look forward to working with you soon.

Offices in North Palm Beach and Jensen Beach, FL

https://www.kiplinger.com/retirement/overlooked-benefits-of-estate-planning

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