Having an estate plan can eliminate confusion, expensive delays and overall bad outcomes, according to an article appearing in The Martha’s Vineyard Times, “Estate planning.” Working with an experienced estate planning attorney will enable you to communicate your wishes and cushion your family during the challenging time after your passing.
Here are some things that you will be addressing when you do your estate planning:
If you are looking to avoid probate, you should create trusts. Note, however, that you will need to retitle assets into the name of the trust to avoid probate. You will also need a will to name guardians for minor children and make sure that if any assets are not titled into the trust during life, that the will pours them back into the trust after probate.