Many people create a last will and testament and believe they have taken care of their estate planning. However, there are many reasons why wills aren’t a sufficient estate plan. Creating a will is not going to give you the control that you need if heirs are not responsible spenders or if you want to leave money to a child but want more control over when and how the child accesses his or her inheritance. Wills also won’t protect assets during your lifetime, help you to avoid estate tax, allow you to transfer assets outside of the probate process, or accomplish other important estate planning goals.
Latest posts by Barry D. Horowitz, Estate Planning Attorney (see all)
- How to Incorporate a Domestic Asset Protection Trust into Your Estate Plan - January 16, 2020
- How Long Does It Take to Probate an Estate in Connecticut? - January 14, 2020
- Is Cryptocurrency an Asset? - January 9, 2020