Estate Planning Introduction
Do you think your estate plan is in order?
Many people think that because they have an attorney and an accountant/CPA/EA they work with that the answer is yes. That may not be the case.
The following are statistics about the general public when looking at a group of ten.
- 1-2 will NOT have a Simple Will
- 5-6 will NOT have Durable Powers of Attorney
- 5-6 will NOT have Marital Living Trusts
- 9-10 will NOT have a Family Limited Partnership (FLP)
- 7-8 will NOT have an Irrevocable Life Insurance Trust (ILIT)
*Provided by the Wealth Preservation Institute
Many people know their estate plans are NOT in order but believe they are too busy and that they will get to their estate plan “when they have the time.” If you have been saying that to yourself, please act now to put an estate plan in order.
Estate planning itself is a very broad topic and cannot be covered in an introduction webpage.