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What is an Estate Plan?

An Estate Plan Is simply a name for the process of transferring property and assets from one generation to another. Your Estate is the total property and assets including financial, retirement accounts and insurance policies owned prior to distribution through a will or trust.


Who is an Estate Plan for?

An Estate Plan is for everyone. Many people assume that Estate Planning is only for the rich, but this is a big misconception. There are no minimum asset requirements. Many people do not think that they have enough assets to justify estate planning, but if they have any property or assets, there are estate planning concerns. Additionally, if there are any children under the age of eighteen (18), there are definite estate planning concerns. Who will raise those children? Who will manage any cash or assets the children might inherit?


Why Should I do my Estate Planning Now?

Most people put off estate planning because it involves more than listing what assets are owned and who is to receive those assets when someone passes away. Estate planning involves attitudes and feelings about death, property ownership, business arrangements, marriage and family relationships. Adult children will often put off talking with their parents about their estate because they do not want to appear greedy, or because they cannot imagine a time without their parents. Parents may also avoid talking to their adult children about estate planning because they do not want to hurt feelings, or they truly are not aware of all the options that are available to them. Although it may be uncomfortable talking about these things, it is worth spending some time and money to avoid the confusion, delay, expense and quarreling that is almost sure to occur if someone dies without a plan. If a plan is not made, state law will decide what happens to the estate, regardless what the deceased may have intended.


When Should I Start?

The best time to start estate planning is NOW before it is too late! With estate planning there is no second chance. No one likes to think about their own mortality or the possibility of becoming incapacitated. That is exactly why so many families are caught off guard and unprepared when incapacity or death strikes. If there are assets, including bank accounts, brokerage accounts, life insurance, retirement accounts, children, or equity in your home, now is the time to start planning.

Where Should I Start?
There are several ways to start this process. We recommend that you call us at 850-685-3314 to discuss how the best way for you and your family to proceed.  Our goal is to educate you and then allowing you and your family to make the decision on what type of process you want go through to simplify, organize, control and protect your estate.  Estate Preservation Group does not offer legal advice based on a specific problem. If you feel that your situation is too complex for our legal document service please consult with a licensed attorney.

We Recommend: 

The Law Office of Chris M. Vorbeck, P.A.
4470 Northgate Ct. 
Sarasota, FL 34234
(941) 921-3124 
www.vorblaw.com