What Is Estate Planning?

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ESTATE PLANNING?
WHAT IS
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Sureties of Life
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They say that death and taxes are the sureties
of life
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Most people engage in tax planning
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However, the majority of Americans have not
executed the appropriate estate planning documents
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Transferring Assets
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ESTATE PLANNING involves arranging for the
transfer of your monetary assets to your loved
ones after you die
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• Last Wills

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You could use a last will to record your final
wishes regarding the transfer of your assets
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However, this is not your only option
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• Probate

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If you use a will, the heirs do not receive their
inheritances until the estate has been probated
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Probate can be time consuming and expensive
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• Probate
• Avoidance

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It is possible to plan your estate in a way that
enables probate avoidance
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• Revocable
• Living Trusts

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One way to avoid probate would be to arrange for
asset transfers through the terms of a revocable
living trust rather than a last will
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Advanced Estate Planning
Can Probate Be Avoided?
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Wills and revocable trusts are commonly used
estate planning devices
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However, there are more advanced estate planning
strategies
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The optimal course of action will vary depending
on the circumstances
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Davenport Estate Planning Consultation
Can Probate Be Avoided?
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Estate planning is a must for all responsible
adults
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If you would like to take the first step, contact
our firm to schedule a free consultation
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Click to visit www.DuffyLawOffice.com