The Importance Of Estate Planning
No one likes to linger on thoughts of death and what comes after – but estate planning is an incredibly important and necessary step that shouldn’t be avoided. In fact, it’s prudent to begin estate planning as soon as possible. The good news is, you can seek professional help for the estate planning process. I’m Dr. Penelope Tzougros and I’m prepared to help you with your estate planning.
Estate planning is about you and the people and causes you care about. It ensures that you are in total control of your property, your belongings, etc. It allows you to make sure you can leave something behind to the people who matter the most to you. You direct how whatever is in your name is to be distributed both before and after your death.
Estate Planning Is Necessary No Matter Your Level Of Wealth
Whether you own several homes and many investments, or if you are starting out and only have a savings account, a cat, and some NFTs, you must provide instructions about who is to own those things after your untimely death. If you don’t write the legal instructions, the state in which you live will decide who gets what.
Seek Professional Estate Planning Services With Wealthy Choices®
Wealthy Choices® recognizes that estate planning is the pits. However, as your financial planner, I am here to prepare you for just that – the P.I.T.S. What is the P.I.T.S.? Principle, Income, Taxes, and Sorrow.
I prepare you to have a conversation with your attorney about what happens to the Principal – the money. We talk about the Income that would be available to the people who have depended on your support during your lifetime. Taxes may be due to your state and the Federal government and you need to account for other expenses such as probate, fees to attorneys, accountants, appraisers, and funeral costs. Finally, S is the sorrow of leaving those you love and directing your assets to help them when they are mourning.
The satisfaction of leaving a message and not a mess is worth the time needed to consider that your choices are established legally.
Contact Wealthy Choices today to learn more about our Estate Planning Services.
