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Life is full of uncertainties, but three things are certain when considering estate planning: death, taxes, and change.
Over time, circumstances will evolve—whether through marriage, divorce, the birth of children, the arrival of grandchildren, illness, incapacity, or other life events. Does an up-to-date will exist? Without a will in place, your wife, children, business partners, and even pets may not be treated well, or benefit according to your wishes. If there are dependents, or successes in life, consultation with a tax accountant and an estate lawyer will bring guidance on dealing with the estate and succession complexities, If life is fairly simple, an online will-making service my suffice. Taking this first step in estate planning starts building the path of a smooth financial and succession future for all loved ones. . |
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Life is constantly evolving, as are personal relationships, business partnerships, friendships, pets, business interests, investments, and charitable goals.
Regularly reviewing and adjusting life and estate plans should be considered essential, particularly after each key event such as marriage, divorce, birth, death in the family, investments, change in business ownership, and a new pet. By keeping the list of dependents, beneficiaries and assets up to date, and aligning intentions with current circumstances, a more positive outcome will be provided for those you care about most in the event of death, illness, and incapacity. |
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Estate planning should not only be about protecting and distributing assets; the process must also prepare the family and perhaps business for potential health issues and incapacity.
Creating both a healthcare directive and a legal power of attorney ensures that your medical and financial decisions can be made by trusted individuals, if and when needed, in line with your wishes. Peace of mind should come from creating these important documents as they have the potential to make a significant difference for your family and loved ones. |