WHAT is estate planning? That’s what we do, but what is it?

Many people might say that estate planning involves wills, trusts, asset protection, planning for disability or death. And it does include all those things, but those things are just what we do. More importantly, at Edwards Group, we ask the question: WHY do estate planning?

Money or Things. Commonly referred to as assets, things such as your house, farm, business, savings accounts, IRAs, life insurance, gold coins, or an antique car are just a few of the things you may have worked very hard for. When you’re gone, what do you want done with these things you have accumulated? What good would you hope those things could do for others? How could your money or things be used to help someone, ease suffering, bring joy, or give someone a leg up? These are all important questions to answer with effective estate planning.

People or Causes. Who are the people or causes that are most important to you? Your spouse? Kids or grandkids? Your church, the Salvation Army, local theater or arts organizations, or an environmental cause? How will the money or things you have be used when you’re gone to reflect what is most important to you?

We help clients everyday who want to create an effective plan to transfer their wealth, creating a legacy that will last long after they are gone. Learn more about estate planning at one of our FREE planning workshops or by signing up for our weekly e-newsletter.

Here are a few articles to get you started:

7 Risks of an Old Will

5 Reasons to Not DIY Your Will

What to Expect at Your Initial Meeting