So, you’ve finally decided to create an estate plan. Maybe you just graduated college, got married, had a child, went through a divorce, received a large inheritance or maybe you simply just want a plan in place. No matter the reason, creating an estate plan is an important step to take in your lifetime. Because there is no one size fits all estate plan, it is important to understand what could be included in an estate plan.
Creating your estate plan
At the Law Office of Stephen W. Grosh, we take the time to fully understand your situation as well as your wishes for the future. This information helps us better understand what is important to you and how best to serve you when creating a plan that meets your needs.
If your goal is to simply ensure that your assets are passed on to designated heirs and help your family avoid the costs associated with probate, our law firm can help you create a plan that meets these needs.
What is in a comprehensive estate plan?
When creating a comprehensive estate plan, there are certain elements one must consider. This typically includes a will, a living will, guardianship for your children, trusts and probate administration. In summation, these documents designate what happens to your assets and property, who has the authority to make financial and health decisions on your behalf, who will care for your minor children if you pass, the types of trusts your assets will be held in and who will administer your estate following your death.
The hardest part of creating an estate plan is thinking about your demise. While it is not pleasant to think about, it is a reality we all must face. As such, our law firm is available to answer any questions about estate plans, how to create them and steps to take when updating them.