CLA Estate Services Educates Seniors About Estate Planning

Do you need an estate plan? According to CLA Financial Services, many of the people who could most benefit from a solid estate plan don't have one, in large part because they don't understand what estate planning is and why it's important. It's not surprising that, in a culture that avoids uncomfortable discussions about such things as end-of-life planning and Wills, most people know little about the importance of estate planning and even less about the various legal instruments that are involved in planning for the distribution of your assets after your death.

The fact is that many people will pay far more in potential taxes, probate costs, attorney fees and other costs than they have to - and all of those costs will reduce the amount of the legacy they've intended for their children and heirs to have. Just as importantly, many seniors have no plan in place to ensure that someone they trust will be making decisions for them in the event they are unable to do so and too many are leaving it up to the state to decide how their assets will be distributed and parceled out upon their deaths if one dies without at least a Will.

Even if you have a single asset, planning advice is and should be a vital part of your future and there are many ways to help protect your assets for yourself and your heirs. The one estate planning instrument most people know is a Last Will and Testament - but a Will is only one of many ways to direct the distribution of assets upon your death. However, a Will does nothing to protect your assets or ensure that they are handled properly while you are still alive.

Those goals are best achieved by other legal documents and instruments, such as living revocable trust and various other types of trusts and legal estate plans that serve to appoint guardians, protect assets and ensure that your assets are there for your use throughout your life. CLA services help seniors define their assets and guide them through the kinds of planning they need to do to ensure that their assets are available for their own care throughout their entire lives and that the unexpected - a catastrophic illness or the need for long term care, for example - doesn't erode the legacy that they intend for their children and heirs to have.

Estate planning isn't all about the money, though. CLA services include discussions of deciding on someone to make medical decisions for you if you are incapable and making your wishes for end of life care clear to those you love. In short, estate planning is an act of love that can take many burdens off the shoulders of your loved ones. If you haven't considered the types of asset financial advice and estate planning that may be beneficial to you, check for a CLA Estate Services seminar being held close to you.