Many individuals put off planning their estate. Perhaps this is due to a misconception that estate planning is only necessary for the wealthy and only involves tax planning, which can be done “later".
The fact is, regardless of your level of wealth and the ultimate tax consequences of your estate, solidifying the future of your family is probably high on your list of priorities. That’s why a well-structured estate plan is invaluable. Through it, you can control the distribution of your assets and possessions, as well as name guardians for your children or plan care for other dependents.