Cincinnati Estate Planning Attorneys Offer 5 Estate Planning Tips You Need to Know
Cincinnati estate planning lawyers can work closely with clients to develop a customized estate plan that is right for their circumstances. Many people do not take the time to think much about estate planning. In fact, chances are good that you haven’t thought much about your legacy at all — especially if you are young and you are in good health. But, the problem is, you never know what the future will bring and if you are not prepared then you and your family could face hardship.
Zimmer Law Firm is here to help make sure that does not happen. We can evaluate your goals, help you to identify the types of estate planning tools that you need to use in your current phase of life, and work with you to put a plan in place and keep it updated as your life circumstances change.
The best course of action is to get personalized help from our estate planning attorneys, but if you are not yet ready to jump into making an estate plan of your own, you can also read on for some important estate planning tips.
Estate Planning Isn’t Just for Older People
You may assume you can wait until you are a senior to make an estate plan – but this is not necessarily the case. Something could happen to you at any point in your life, even when you are younger. In fact, it can be especially important for younger people to make an estate plan because you may need to address important issues such as who will take care of your children if you pass on before they become adults.
Estate Planning Isn’t Just About Making a Will
Many people think they are done with their estate plan if they have made a last will and testament. The reality is, a will does not address important end of life issues such as what will happen if you become incapacitated or what kinds of medical care you will need to receive in an emergency. You need to address these issues.
A last will and testament also is a slow and expensive way to facilitate the transfer of wealth because assets have to pass through the probate process. Your heirs or beneficiaries can get their inheritance more quickly, you can save on costs, and you can take more control over what happens to your wealth by using other tools.
Estate Planning Isn’t Just About Specifying What Happens to Your Assets
Many people focus primarily on dictating what will happen to their assets when they pass on. But, this is just a small part of the estate planning process. You also need to consider how to protect your wealth during the course of your life. For example, you may not have any assets left to transfer to loved ones if you don’t make a plan to ensure your money and property doesn’t have to be spent if you need nursing home care that Medicare and private insurance will not cover. You need to take steps to protect your assets, prepare for incapacity, and ensure your loved ones are provided for appropriately.
Estate Planning Isn’t Just for the Wealthy
You don’t need to be rich to make an estate plan. Everyone cares about what happens to them if they become very sick, and everyone has some assets that they deserve to pass on to the people or causes they care about. No matter how much money you have, you should work with an attorney to make an estate plan that is right for you.
Estate Planning is an Ongoing Process
When you make an estate plan, you will want to adjust it periodically as you buy and sell assets or as your family situation changes so you always have up-to-date plans in place.
Getting Help from Cincinnati Estate Planning Lawyers
Cincinnati estate planning lawyers at Zimmer Law Firm can provide the personalized one-on-one help and support that you need to create a comprehensive estate plan so you and your family will be protected and your wealth will be secured. We will make the process easy so you do not have to worry about making mistakes or experiencing a lot of stress as you consider what you want your legacy to be.
To find out more about how we can help you with all of your estate planning issues, join us for a free seminar today. You can also give us a call at 513-721-1513 or contact us online at any time for more help and advice specific to your situation.