I Am Not Rich, Why Do I Need an Estate Plan?
“Wealth is the ability to fully experience life.”
. .... -Henry David Thoreau.
Your Estate Plan does more than merely pass your things to your spouse or offspring. For example, your Estate Plan describes what happens if you become incapacitated, who controls your assets, for how long, and under what circumstances. Also, your Estate Plan describes who will take care of your minor children and how your
assets will be used for their benefit and for how long? Your Estate Plan what happens, when, by whom, and how certain events effect you and your family.
Many argue that a modest estate demands careful planning more than a larger estate because there is less room for error. In a large estate, failure to plan that costs thousands of dollars is aggravating and frustrating because it can be so easily avoided by planning. In a smaller estate, failure to plan that costs thousands of dollars could be a substantial part of the
estate, leaving those you love and care about without dollars they could otherwise put to positive use.
If you do not make your plan, the state has a plan in place for you. Who do you want to make decisions for you when you are not able to voice your own decisions? Who do you want to distribute your hard-earned assets? Who do you want to care for your minor children? When do you want your children to be able to access all of the money in your estate? The state already answered these questions for you. If you do not make your own decisions, you are stuck with the answers given by the state.
Whether you need an Estate Plan is not measured by money. If you want to make the decisions for you and your loved ones to fully experience life, you need an Estate Plan. Contact Ison Law today to set-up an Estate Planning session today!
ISON LAW • 10348 Sawmill Road, Powell, Ohio 43065 • (614) 336-3083 • isonlaw.com