Many people don’t know what an estate is or think it is something that requires little or no concern unless you have considerable wealth. In fact, an estate plan is for everyone. Your estate is the total property that you own, both real and personal. Real property refers to your real estate, and personal property encompasses everything else, such as cars, bank accounts, collectibles, etc. We all like to manage and take care of these things. When we die, we need to pass on that responsibility to someone we trust to carry out our wishes.
The purpose of estate planning is to distribute your real and personal property to the beneficiaries of your choosing, whether they are family, friends or favorite charities. You should have the power to choose exactly what happens to your possessions. Without an estate plan, you will have no control over your estate after your death. That means you will have no say in who receives your property, how much your respective heirs receive, or what portions of your estate are potentially subject to government taxes.
If you have minor children, your estate plan is about much more than property. It can address not only who should care for and raise your children if you pass away, but also who you trust to manage their inheritance for their benefit until such age when they are mature and responsible enough to do so themselves. It is our goal that the intentions of our clients for their property and their families are clearly stated in their estate plans so that their choices can live on even after they pass away.