Before you depart on any road trip, it's common to let your family or friends know where you are going, how you plan to get there, when you will arrive. This allows you to make certain that people are aware of your path and destination.
Estate planning is the same. To ensure your wishes are carried out, you need to provide instructions stating who is to receive what and when they are to receive it.
Making a plan in advance gives you greater control, privacy, and an opportunity to leave more of your legacy to your loved ones. Estate planning is an on-going process. Your plan should be reviewed and updated frequently as your family, financial situation, and state and federal laws change over your lifetime.
Create a legacy for your loved ones.
Creating a will or living trust
Providing instructions for passing your possessions
Naming a guardian and an inheritance manager
Minimizing taxes, court costs, and unnecessary legal fees