People concerned about what will happen to their assets after death may want to contact an estate attorney. In this video, the viewer will learn about estate planning. Estate planning is arranging, in advance, how someone's assets will be distributed after they pass away.
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These arrangements can be made via wills and trusts.
Someone who wants to make an estate plan should first inventory their assets. They should also think about who they want to care for their children or their pets. Estate attorneys can also help people plan for their future using asset protection, tax structures, and living wills. These attorneys can also help to decide on changes someone may need to make to their insurance.
Many people think only wealthy people need estate planning. However, all people can benefit from estate planning. If someone doesn't have a legal plan for their assets, the state will take control of their assets and decide how those assets will be distributed. If the state takes charge of someone's assets, this may result in the recipient of their assets paying increased taxes or needing to work with a probate attorney to receive any assets from the estate.
