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Why do I need an estate plan?
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There are many things in life that can be ignored and the issue will eventually go away. However, your estate is not one of them. Your estate will be handled one way or another during your life and at your death. The question is how you will choose to handle it.
Every state has default procedures for handling an estate for those who do not take the time to plan on their own. This is called probate and without a simple will, it is the default for making all financial and custodial decisions for your surviving family.
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The beneficiaries for your estate are probate, IRS, heirs, and charity. The default for your estate is in this order: probate, IRS, heirs, perhaps charity. If you take the time to outline your estate, the order could be how you would want it to be – you choose.
The parable of the talents in Matthew 25 is clear; to maximize the use of what we are entrusted with here on this earth. This begins and ends with estate planning.
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