Do I need estate planning?
Yes - whether your estate is large or small you should designate someone to manage your assets and make health care and personal care decisions if you ever become unable to do so for yourself. For many, this planning can be the most important aspect of an estate plan.
If your estate is small, your plan may simply focus on who will receive your assets after your death, and who should manage your estate, pay your last debts and handle the distribution of your assets. If your estate is large, you should also plan various ways of preserving your assets for your beneficiaries and of reducing or postponing the amount of taxes which otherwise might be payable after your death.
Your estate plan can protect and preserve your:
Bonds
Retirement Accounts
Death Proceeds from Life Insurance
Business Interests
Accounts Receivable
Real Estate
Personal Property
Intellectual Property
Cash Accounts
Stocks