When you are creating your estate plan, you are likely thinking about the various things you need to protect. Things like money, properties, items with sentimental value, your medical needs and access to your financial records all probably come to mind.
Everyone should have an estate plan. With sufficient preparation, you can be assured that your effects will be distributed according to your wishes. In addition, you can minimize the taxes and expenses that are incurred when your assets are transferred to your beneficiaries.
It is no secret that a will can be an enormously valuable document. A will can protect a person's kids, assets and various wishes after his or her death and shield family members from lengthy, contentious legal battles. It can also prevent certain parties from receiving money or property the decedent did not want them to have.