Protect your family and your legacy with an estate plan

Don’t have an estate plan? You are not alone. A 2017 study done by Caring.com found that only 42% of Americans have an estate plan. Unfortunately, the consequences of not having an estate plan can wreak havoc on your loved ones. Why? Because the state of Connecticut is responsible for distributing your assets and naming guardians for any minor children if you die without a will. 

Protect your wishes with an estate plan

An estate plan is the only way to ensure your wishes will be honored when you pass away. Your estate plan can also protect your assets and make sure your wishes are known while you are still living, too.

Don’t know where to start? Here is a list of things to consider to help protect you and your loved ones before it’s too late:

  • Will: Create and update your will as necessary to make sure it properly addresses distribution of your assets and who will care for any minor children.
  • Living will: A living will or an advance directive will document your preferences for medical treatment and procedures if you are incapacitated.
  • Trusts: A trust allows your loved ones to avoid probate court and can help protect your assets. Trust can be complicated but they can offer more protection than a will.
  • Beneficiaries: Review your beneficiary choices on your financial accounts. This includes your retirement and investment accounts.
  • Tax implications: Review the tax implications of your estate and create a plan that will help protect your assets.

Learn about your estate planning options

Your estate plan can protect you, your family and your legacy. To ensure that all three stay protected, it is important to continue to review your plan and adjust accordingly. This is especially true as your life changes.

Your attorney can help you better understand where to start and what to include in your estate plan. Your attorney can also help you review and update your estate plan to better protect your legacy as you age. This is just as important as setting up your estate plan and can make all the difference when it comes to protecting your loved ones and your wishes.

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