Estate Planning is more than a Will and is more than just determining who
gets your property when you pass away. It is about minimizing the costs
to you and to your family. Some of these costs are strictly financial,
and frankly obvious, such as federal taxes or the often overlooked state
death taxes. Other costs are hidden, such as the drain on your estate
that comes from failing to plan for your retirement or the loss in value
to your business when it has to be sold at a discount because there is
no better plan in place.
If you have a special needs child or grandchild, any property they receive
will, in time, be confiscated to cover costs. Then there is the cost that
comes in failing to protect your children’s inheritance, say from
accidental disinheritance if your spouse remarries. More likely, though,
is the loss of your child’s inheritance when an ex-spouse carves
out a piece of it in the property settlement. Not all costs are monetary,
though. There are the emotional costs when your family is left behind,
trying to figure out what to do with your estate, or worse still, they
begin fighting with one another over what to do with your assets.
Estate planning is an opportunity to diminish these costs; an opportunity
to help preserve your family’s inheritance and reduce the emotional
toll on those you care about.
Whether you are looking to create your estate plan for the first time or
to update your existing plan, Goosmann Trust Law Counsel can help you
create your comprehensive and personalized estate plan, providing you
peace of mind that your wishes will be followed.
Asset Protection Techniques & Strategies