The Basics of Estate Planning

Most people don't want to think that something unexpected will happen, and they put off estate planning. However, that's a huge mistake. The Youtube video "Estate Planning Basics - Estate Planning Essentials - WealthCounsel" has all the information you should consider to finally take the plunge and be ready in case something happens.

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Estate planning is not just about planning for your death. It's also about planning for disability or incapacity. That way, you can make sure that your wishes are followed even when you can't advocate for yourself anymore. That might involve the division of assets or ensuring that someone you love will make decisions in your stead. If someone didn't go through the estate planning process and becomes incapacitated, the whole matter might be taken to court.

That can be a lengthy and costly process for the rest of the family. Therefore, estate planning ensures that you can provide for yourself or others no matter what. You can also leave things to people you name and minimize extra costs such as attorney's fees and some taxes.

You can watch the rest of the video for more details about estate planning.