Understanding Estate Planning: 2 Basic Questions Answered When most people get started with their estate planning affairs, they often have little understanding about the estate planning process. It’s important to have some idea about the process, so that you feel more comfortable when planning and can make good decisions. If you’re thinking about planning your estate, take a look at the following information. If you have any questions, or if you’d like to begin your estate planning, contact an estate planning attorney today. What is an estate? Your estate is everything that you own and have control over. This includes everything from your personal items to your financial accounts. Whether you own a home, car, jewelry, clothing, retirement account, bank account, stocks, or bonds, these items are considered part of your estate. If others owe you money, these debts are also included in your estate. Additionally, your estate may include assets that are owned in your individual name, jointly with others, and can even be held in a trust. Estate planning makes it possible to have full control over your estate affairs. What is estate planning? Estate planning is a process that allows you to prepare for the disposal of your estate, after your death. Estate planning also gives you the opportunity to plan for possible incapacity, as well as prepare for future needs. There are a number of goals that can be achieved with the use of this planning. It’s important to work with an estate planning attorney so that you’re able to fulfill all of your estate planning needs. Without an estate plan, you will have no control over your future such as who raises your minor children, who gets your assets after your death, and you handles your financial matters. You may also face many other negative consequences, and your personal wishes may not be respected. If you have any additional questions about the estate planning process, consult with a qualified estate planning attorney. Experienced estate planning attorneys Seattle WA of the Byrd Garrett PLLC offers estate planning and business planning resources to residents of Seattle WA. To learn more about these free resources, please visit http://www.byrdgarrett.com today.
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