What is an estate plan?
An estate plan is a documented plan, designed to minimize costs, fees and taxes in the event of death. A good estate plan can also facilitate administration and asset handling during life in the event of illness or incapacity.
I don’t have a lot of assets, do I still need an estate plan?
If you care about what happens to you personally and your assets, regardless of how small your estate might be, an estate plan in very simple terms, can be very helpful, regardless of the size of your estate. A few simple documents, executed today and maintained periodically, can make the difference between easy estate administration and nightmare litigation.
Will it cost a fortune?
A simple estate plan, consisting of a few simple documents can cost less than $500.00, less under certain circumstances. A more complicated estate will require more detailed, complicated and therefore more expensive documentation.
What documents are needed for an estate plan?
The simple plans include a Will, a Durable General Power of Attorney and a Living Will or Advance Directive. Other documents including various types of revocable and irrevocable trusts can also be part of a more complicated plan.
Call 570-345-2888 for an estate planning appointment.