If you’re undertaking the delicate task of planning your estate, including managing your assets, wills, and a living trust, it’s best to have the help of an experienced attorney from Mullen, Schlough and Associates.
Estate planning is essential for everyone. Even if you believe that you’re “not wealthy enough,” or that your division of assets is “too simple” to warrant creating legal documents outlining, you’d be surprised at how much the government may be able to take from your property before it’s passed on to your loved ones and family members. Planning estates is not just for the wealthy upper class- it’s for everyone, and it’s important that you do it as well.
Estate planning details may include:
Future Disability Planning
Writing a Will
Everyone should have a will. They’re one of the most valuable and basic tools of planning an estate, and also one of the most powerful. The government loves to pounce on inaccurate wording or instructions that aren’t perfectly clear, and certain types of wills may be better than others for allowing the majority of your assets to pass on. Most importantly, wills allow you to guide the future finances of your family for years to come, after you’re otherwise unable to physically. You remain in control after you’ve passed on.
Business Planning and Living Trusts
Business succession planning is a vital tool that a corporation must have in place. When planning for the unexpected, it’s important to understand the chain of succession and have it in place at all times. Living trusts create distinct legal identities where your assets may be safer than if they were yours originally. Avoiding the expensive and emotional process of probate is important if you want to leave your business and personal belongings in good hands- and the hands of the people you choose. Asset protection can be complicated, and creditors and other organizations will be hungrily going after your belongings of value as soon as they can. At Mullen, Schlough and Associates, we can shield your valuables and hard-earned savings, and keep them safe to pass along.