What Is Included in My Estate Plan?

Estate planning is a multifaceted endeavor, and there is no one universal plan that is perfect for every person. Different people have different estate planning objectives, and the right way to proceed will depend upon the circumstances. Though there are different ways to proceed, there are two major issues to consider when you are devising your estate plan. Asset Transfers When you plan your estate, you facilitate postmortem asset transfers. There are different legal devices that can be used to accomplish this goal, and you should act in a fully informed manner. A last will is the most commonly used vehicle of asset transfer, but there are limitations when you use a last will. Plus, a will must be admitted to probate, and the heirs cannot receive their inheritances while the estate is being probated. If you were to use a revocable living trust instead of a last will, the trustee could distribute assets outside of probate. In addition to this benefit, you could also include spendthrif


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