Estate Planning Not Just for Wealthy

WealthCounsel survey says half of Americans don’t see value of estate plan except for wealthy.

A survey conducted by WealthCounsel reveals that half of Americans only see estate planning of value for wealthy, according to a Wills, Trusts & Estates Prof Blog "Survey Reveals Helpful Insights for the Future of Estate Planning."

Estate planning is not just for the wealthy.

Families can benefit from estate planning regardless the amount of assets they have. It is even beneficial to have an estate plan when you do not have any assets other than personal property.

The estate plan can be used to make sure the people who do get your personal property after you pass away are the people you wish to have it. But, an estate plan is about much more than property.

Estate planning is used to determine who will care for your minor children if something happens to you. It is also used to make important decisions in advance about the care you will receive at the end of your life and who will speak on your behalf when you are unable to do so.

Do not let a lack of (perceived) wealth stop you from estate planning. No matter how much money you have, having an estate plan will make things easier for you and your family.

An estate planning attorney can guide you through the process of creating an estate plan that meets your unique circumstances.

Reference: Wills, Trusts & Estates Prof Blog (Oct. 21, 2016) "Survey Reveals Helpful Insights for the Future of Estate Planning."