If you’re like most people, you probably don’t think much about your estate planning until it’s time to make those big decisions about what to do with your assets after death. However, even if the thought of estate planning seems daunting or unnecessary, it can actually help with these decisions.
Estate planning is important because it helps everyone involved in the distribution of your assets after your death, whether they are relatives or friends. Estate planning can help to protect assets from taxes and creditors, as well as provide a plan for the distribution of those assets after your death.
Estate planning is also important because it can save you money. Your heirs will inherit property, but not all of it will be worth as much as the total value of all of your property combined. If you have an estate plan that specifies what will happen to each asset and how much each asset will be worth, then there’s less chance that someone could get stuck with an asset that has no value at all.