You may think El Paso financial estate planning is meant for when you get older, but the truth is, you can start planning at any age. A comprehensive estate plan includes wills and trusts, a power of attorney, and a living will.
Why You Should Start Financial Estate Planning
Financial estate planning in El Paso takes away the ugly mess of who gets what after you pass. It offers a comprehensive and detailed list of your final wishes with the help of a trustee or beneficiary to see the process along. Other benefits include:
Protect Your Loved One’s Future
If you’re someone who is fortunate to come into a lot of wealth or financial goods, passing these items along to your loved ones can provide them with security during a troubling time. They can comfortably deal with your loss without the headache of trying to see all your final wishes through.
Secure Your Assets
With the help of an experienced estate planning attorney, you can create an effective strategy to minimize taxes and protect your assets from other creditors or lawsuits. Financial estate planning ensures your assets aren’t taken or distributed by the state. Instead, they are given to people you designate who can help preserve your wealth and legacy for years to come.
Plan for Incapacity
The truth is anything can happen, and financial estate planning in El Paso minimizes additional stresses by having everything planned in advance, such as incapacity. Should you end up in a coma, for instance, you’ll have legal documents in place, such as a power of attorney to make executive business decisions on your behalf and a healthcare directive to make all medical decisions. These people you appoint will ensure your wishes are followed in case you cannot make them yourself.
Save on Taxes
An estate planning attorney can work with you to ensure your loved ones are protected from the IRS, allowing for a seamless transfer of assets to heirs and creating a minimal tax burden for them.
Financial Estate Planning in El Paso
If you’re looking to prepare for your future, Clifford, Ross, Raudenbush, & Copper, LLC is here to help. Call (915) 593-3330 to get started today!