FREQUENTLY ASKED QUESTIONS
What is Estate Planning?
Estate Planning is simply a name for the process of transferring property and assets from one generation to the next. Your "Estate" is the total property and assets owned by you prior to distribution through a Will or Living Trust.
Many people assume that "Estate Planning" is only for the rich, but this is a big misconception. Estate planning is for everyone; there are no minimum asset requirements. Many people do not think that they have enough assets to justify estate planning, but if you have any property or assets, there are estate planning concerns. Additionally, if you have any children under the age of eighteen (18), you definitely have estate planning concerns. Who will raise your children? Who will manage any cash or assets your children might inherit?
Do I need an Estate Plan?
If you want to control and preserve your assets (your estate) for yourself and future generations then yes, you need an Estate Plan.
When should I start the Estate Planning process?
The best time to start estate planning is NOW...before it is too late! With estate planning there is no second chance. No one likes to think about their own mortality or the possibility of becoming incapacitated. That is exactly why so many families are caught off guard and unprepared when incapacity or death strikes. If there are assets, including bank accounts, brokerage accounts, life insurance, retirement accounts, children, or equity in your home, now is the time to start planning.
Are Revocable Living Trusts new?
No. Living Trusts have been used for hundreds of years. In recent years, the Living Trust has become increasingly popular as individuals have discovered its many advantages. A properly prepared and funded Living Trust avoids probate so that your estate is distributed according to your wishes.
Who is the Trustee of my Trust?
Most people that create a Living Trust designate themselves as the Trustee of the Living Trust while they are living (or as a Co-Trustee with a spouse or partner). The Trustee of the Living Trust has complete control of all the property and assets in the Trust. They can add or remove property from the Trust at any time they wish, whenever they wish. And if you become incapacitated, the successor trustee you have appointed in your Living Trust can immediately assume control over your affairs.
What is Easy Legal Planning?
Easy Legal Planning was created as an affordable source for quality estate planning documents. We are dedicated to providing advanced and affordable estate planning documents that are state specific and up-to-date.
Through the years as we have educated our clients in estate planning options it became apparent that Living Trusts were the estate plan of choice for nearly all our clients. That is why at Easy Legal Planning we specialize only in Living Trusts.
We have a unique approach to providing quality legal documents. While many people are in need of estate planning documents, they do not want to go to the time and expense of meeting with an attorney for several hundred dollars per hour. By having top estate planning attorneys create our documents without giving legal advice specific to an individual or couples situation, we can dramatically lower our prices and pass the savings on to you.
Basically, at Easy Legal Planning you are getting attorney's documents without attorney's prices!
Thank you for visiting Easy Legal Planning. We look forward to assisting you in all your estate planning needs.