Everyone, regardless of income or net worth, has an estate. It may include minor children, assets like a home, car, computers, websites, business, bank accounts, retirement accounts, life insurance, collections and of course your online presence (Digital Property).
Since you are fortunate enough to have an estate, it definitely is a good idea to find an attorney who can help you develop a plan, an estate plan, so that the government doesn’t require your family to accept the State/Federal’s predetermined plan which will have lasting impact on your family’s future and fortune.
The best way to get your Estate Plan started is to answer four simple questions: Where, Who, What and When.
- Where will your children live if something happens to you and your spouse?
- Who do you want to receive your things (either cash, tangible personal or virtual property)?
- What things are your family going to receive and
- When would you like your family to receive those things? Do you want your children receiving everything at 18 years of age?
And once you have answered those questions it might be a good idea to think about a fifth “W”. Wondering… I wonder what would happen if you or your spouse suffers a temporary incapacity. What types of legal document can be drafted now so you can stand in each other’s shoes to make medical or financial decisions.
For more information about estate planning documents for you and your family please contact Michelle-Shari Kruss at (503) 490-4020 today.