Estate planning is the process of arranging for the management and/or disposition of one’s estate in the event of incapacity or death. Planning ahead by arranging for the disposal of your assets now can have many benefits, including;
- ensuring that your loved ones are provided for after your death;
- ensuring that your assets go to your intended beneficiaries; and
- maximizing the value of your assets by avoiding, where possible, certain taxes and legal expenses. Certain steps can be taken to avoid probate entirely, which would save thousands of dollars in legal fees.