On behalf of Kadish & Anthony Law Group posted in Estate Planning For Business Owners on Wednesday, June 13, 2018.
When people count on you, making sure that you have your affairs in order is imperative. One way that you can do this is to set up your estate plan. You have to think carefully about what you are going to want everyone to get. Once you have that plan, you will be able to determine how to make your wishes happen.
One area of estate planning that is often misunderstood is trusts. People tend to think that these are reserved only for the wealthy, but this isn’t the case. Many people don’t realize that even smaller estates might benefit from trusts.
A big benefit to trusts is that they don’t have to go through the probate process. This provides some privacy that your loved ones might appreciate when you aren’t here to protect them or to handle business matters any longer.
We recognize that you have a lot to think about right now, but putting off your estate planning isn’t something that you should consider. We are here to help you learn about the process so that you can determine how you are going to set your loved ones up when you pass away.
It is important for you to remember that trusts and wills are handled separately. Wills do need to go through the probate process and the contents will more than likely be made public. This can take some of the security away from your loved ones since anyone will be able to find out what they received. We want to help you make things easier for your loved ones and help to keep them protected.