Why Do We Plan?
I’ve spoken a great deal about the need for estate planning and how it can protect your assets for you and your family. But often times these concerns miss the real reason everyone needs an estate plan. Indeed, the greatest gift you can give to your family is the ability to keep their relationships with each other after you pass away.
While parents are alive, relationships ebb and flow, but maintain some semblance of normalcy. Even after the first death, family relationships stay in tack. But when both parents are gone, the family relationships inevitably change. Sometimes they get better, but often times they get worse. Left to themselves or even worse, the court system, your loved ones inevitably find themselves in a difficult place. I find in my practice that this is the number one concern for my clients.
- Well developed estate plans can solve many of these issues.
- Carefully select your successor trustees. Children are often times not the answer.
- Consider using independent trustees.
- Work with experienced estate planning attorneys to draft instructions for the trustees.
A well designed estate plan implemented with well crafted documents can keep family harmony. Your death shouldn’t mean the death of your family as well.
This is Jamie Kalicki of Kalicki law offices. Remember, when it comes to protecting you, your family and your wealth, its Kalicki Law Office.