Young people must be most concerned with Estate Planning:
Estate planing helps in proper distribution of our assets to our
beneficiaries. The beneficiary is the person who will receive the
assets or life insurance death benefit after an account holder
passes away.Starting early is smart, as such estate planning is not
only for the rich and the old.
- Our wealth will be passed to to the right people, if a proper
estate plan is in place.
- It helps us to choose a guardian for our children. If for any
reason, we die the state will select a guardian for pour children
which may not be of our choice.So, it is important that through an
estate plan we choose a guardian for our children.
- if we start saving now, we can set aside a greatest amount of
money for our children and with proper planning of the estate taxes
we can ensure that they pay, the lowest inheritance tax.
- we an help our favourite charities through an estate plan.
Without an estate plan , we can help our favourite charities.
- with proper estate planning, we can be prepared for anything.
If our loved ones dies, with proper planning we can be protected
from unforseen situations.