Hands from the Grave? Is a Will sufficient? New to Estate Planning? (Updated)
Photo by JJ Jordan on Unsplash Author: Andrew Lee About 3 minute read. The first impression of Estate Planning most people think about are: Leaving properties, bank accounts, retirement accounts, some assets, etc. to their heirs with or without a will. Thinking a "Will" will satisfy the Probate court; or I don't need it because I don't own a house or I don't have anything for my heirs I don't need it when I am alive However, estate planning is not only about your Will and passing assets to heirs, but also involving decisions when you cannot decide if you are incapacitated and still alive, tax planning (not to mention that estate tax is 40% now as of 2020) and more. Even you think you are leaving all of the assets to your heirs, have you thought about how much do they really receive after all the fees and taxes? and when (maybe 1+ year)? they will receive if it goes through Probate court? and not to mention the intangible emotional burden and stress. What ...