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What is estate planning?

Author: Greg Jimeno
by Greg Jimeno
Posted: Jun 23, 2022

Estate planning is the process of setting up an estate to be administered after a person's death. Estate planning is necessary because laws governing estate succession vary by state, so it's important to have a plan in place before a person dies. The primary goal of estate planning is to ensure that property and assets are distributed according to the owner's wishes, rather than according to state law. For example, if you want your children to inherit your home after your death, but state law dictates that all real estate must go through probate for them to receive it, your wishes may not be followed.

Since you are searching and need an estate planning lawyer, we can help you get rid of this concern. This is an important part of financial planning because it ensures that your wishes are carried out after your death, which can help people avoid conflict and confusion among family members who might otherwise have a hard time agreeing on how to handle things.

Estate planning is a way of organizing your assets and financial affairs to ensure that they are passed on to your loved ones in the manner you desire. This also is important because it helps you ensure that your wishes are carried out when you're gone.

Why is it important to have an estate plan?

Estate planning is the process of setting up an estate to be administered after a person's death. Estate planning is necessary because laws governing estate succession vary by state, so it's important to have a plan in place before a person dies. The primary goal of estate planning is to ensure that property and assets are distributed according to the owner's wishes, rather than according to state law.

Estate planning is the process of arranging for the distribution of your assets after your death. It involves making decisions about who should receive your assets, what kind of property you want to leave behind, and how your estate will be managed.

Who needs an estate plan?

Everyone needs an estate plan. It is the most important document anyone can have, and it can make all the difference in the world for you and your family. Even if you already have a will or trust, we still recommend getting professional help to ensure that your wishes are carried out.

Indeed, estate planning is most often associated with people who have a lot of assets to protect. An estate plan helps ensure that your wishes are followed when you die, by making sure that all of your assets go where you want them to go.

How do I get started on my estate plan?

When you start thinking about your estate plan, it can feel like there's a lot to do, and all of the options can be overwhelming. But don't worry! We're here to help make it easier for you.

If you already have an estate plan, we'll show you how easy it is to update it as situations change in your life, like when you get married or divorced, have children or grandchildren, or start or stop working full-time. We'll also give some advice on how best to document those changes so that they don't get overlooked during probate proceedings later on down the road.

Chesapeake Wills & Trusts

Address: 7310 Ritchie Hwy #900, Glen Burnie, Maryland, 21061, USA

Phone: (410) 590-1900

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Author: Greg Jimeno

Greg Jimeno

Member since: Jun 20, 2022
Published articles: 1

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