One in every two Americans has yet to create an estate plan. But, perhaps the most pertinent reason for this procrastination is failing to understand what a comprehensive estate plan can accomplish. Even a relatively simple estate plan provides for the management of your wealth while you are alive and the distribution of your assets upon death. A well thought out, comprehensive estate plan, however, can accomplish far more. Your estate plan can protect you, your assets, and your loved ones while you are alive and transcends your death.
The Kuhn and Kuhn Law Firm believes that estate planning should be personal. Our estate planning attorneys are dedicated to working closely with our clients to create an individualized estate plan that addresses the client’s unique needs and goals. You can contact our firm by calling 843-577-3700 or by using our online contact form today so that we can get started protecting you, your assets, and your loved ones. Come in for a consultation in one of our two convenient office locations in Charleston and Summerville.
Why Is Estate Planning So Important?
The primary goal of any estate plan is to build framework for the distribution of your estate assets after your death. In the absence of an estate plan, the intestate succession laws of the State of South Carolina will determine what happens to your assets when you die. Those laws will not likely distribute your assets in the same manner you would; failing to leave behind an estate plan effectively waives your right to determine what happens to your lifetime of hard work when you die.
What Can My Estate Plan Accomplish?
Although your estate plan provides a road map for the distribution of assets upon death, the focus of a comprehensive estate plan will also protect and grow your estate assets while you are alive. Without a plan to protect and grow your assets while living, there may not be any assets left to distribute when you die. A well thought out estate plan may include a variety of components, such as:
- Incapacity planning
- Retirement planning
- Business succession planning
- Tax and probate avoidance
- LGBT planning
- Special needs planning
- Medicaid planning
Each of these components are designed to work independently and collectively to protect your legacy while you are alive and provide for your loved ones after your death.
If you have yet to sit down with an experienced estate planning attorney to create your estate plan now is the time to do so. Once your plan has been created, be sure to review and revise the plan on a regular basis and when events warrant an update. The Kuhn and Kuhn Law Firm would like to help you create your estate plan to ensure that you, your assets, and your loved ones are protected both now and in the future. Contact our firm by calling 843-577-3700 or by using our online contact form today to schedule your consultation so that we can get started on your plan.