If You’re Overwhelmed by Estate Planning, Focus on the Simple Things
Apart from minimizing tax concerns, protecting wealth, ensuring orderly transfers of
family businesses, and other estate planning concerns, when you boil estate planning
down to its essence, what most people want to do is create a plan that ensures their family
will be cared for and as happy as they can be after they die.
Unfortunately, this desire is often lost in the creation of complicated estate plans. As you
create your own plan it’s important to remember that you do not want to leave behind a
legacy that finds your family at odds with one another over your choice of gifts or
because of the plan you made.
Whenever you create an estate plan your attorney and financial advisers are there to work
for you. If they advise you to take a particular action or create a specific part of your plan,
always ask them to explain it to you so that you understand. If they are unable to do this
you need to take a step back and consider why you are using that part of the plan. You
want to be assured that your attorney knows what he or she is talking about, and if they
are unable to explain something to you so that you understand it, this should raise a
question in your mind.
Also, it’s important to think about a legacy that doesn’t require control. Think about
leaving gifts, not trying to control your family after you die. While it is possible to exert
some kind of control over the property you leave behind, this type of estate plan can often
give rise to hurt feelings, conflict, and a disastrous family situation.
Experienced estate planning attorneys Greensboro NC of the Law Offices of Cheryl
David offers estate planning and business planning resources to residents of Greensboro
NC. To learn more about these free resources, please visit http://www.cheryldavid.com