News & Announcements

June 17, 2020

An Introduction to Planning for the Future

By: Blake K. Cosentino

 

It has been said that most people spend more time planning for their annual vacation than they spend planning for the future. As counter intuitive as this might seem, there are many reasons for it, including, not understanding what is involved and not feeling qualified. Many people just do not know where to begin. Whatever the reason, the time spent identifying and addressing the legal and economic concerns most Americans ultimately face is time well spent and planning for the future can provide security and peace of mind if done properly.

 

Just the words “estate planning” can be enough to cause anxiety. It is easy for people to form the opinion that only millionaires need estate planning. This is a misconception. It is true that as one’s net worth rises things can become more complicated at death but that does not mean the average person can afford to put their head in the sand. Imagine for a moment your own future and consider these questions:

 

●     Who will decide where you are laid to rest if you passed?

●     Where will your money go upon your death?

●     What will happen if you die leaving more unpaid bills than assets?

●     Who will raise your children if you were not around?

●     Will taxes have to be paid when you die, and just who will have to pay them?

●     What would happen if you were alive but were unable to make your own medical decisions or financial decisions?

●     What would happen if family disagrees as to your medical treatment?

 

These are not easy questions, but they are questions most of us face at one time or another. Just as building a house requires a team of architects, carpenters,plumbers, and others, building an estate plan requires a team as well; and, it is important to get proper guidance from qualified professionals.

 

Our knowledgeable attorneys are ready to be your qualified professionals. Let us help you start planning for your future.