Majority of people assume they don’t have an estate and therefore they don’t need an estate plan.
But if you own a car, house, jewels, some money in the retirement fund or even life insurance than you have assets you need to protect, plan and pass on to your loved ones.
An estate plan is especially important if you have children who are minors and /or other dependents. Have you also considered these other major concerns?
You can meet your estate planning goal by creating a TRUST and a WILL or a combination of the two, you will have gone a long way in providing for your loved ones future when you are not there.
If you pass on without a TRUST or a WILL, there will be repercussions:
But with a TRUST and/or a WILL, none of these consequences will arise.
The common type of Trusts are: