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Estate Planning Basics

Estate Planning Basics

October 6, 2020

Estate planning isn’t only for the extremely wealthy. Anyone who has assets, dependents, or an interest in how they are cared for when they age should consider a form of estate planning.

More than half of the population leaves no formal plan in place for their loved ones when they pass. Familiarizing yourself with the basics of estate planning can save you and your loved ones unnecessary grief during an already difficult time.

Estate planning is the process of determining what happens to everything that belongs to you or that you’re responsible for in the event of your incapacitation or death. It covers far more than just your wealth. An estate planning document can include directions for many aspects of your life.

The components of an estate plan can include:

For more on getting started with estate planning visit here