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Sunday, June 5, 2011

Estate Planning - Why do they call it planning, when very few of us plan?

Did you know the majority of people do not have a will or trust? Its amazing to me (maybe because I'm an estate lawyer) but people love to control their money and things while they are alive, but seem to put little to no thought into their property upon their death.

In addition, parents with minor children need to plan not only for their property, but the estate planning process is the perfect time to draft documents that nominate a guardian for their children in the event of some tragedy.

Look at Michael Jackson - his untimely death caused great panic and infighting between his family all because his assets were not controlled by a testamentary instrument. (He had a will but it only covered a few of his assets - a reason to update old wills/trusts) Now, for most of us we don't have all the assets Mr. Jackson had, but when you work hard for something, don't you want to protect it? If for the only reason that you want to give it to a particular person or cause after your passing.

Raxter Law drafts custom wills and trusts and a variety of other testamentary instruments. The consultation is free and it gives us an opportunity to sit and figure out the best instrument for your planning needs.  See menifeelawyer.com for more information.