Estate Planning Basics

1
Estate Planning Basics (Part 1)
Frequently Asked Questions About Estate Planning
And Why You Need to Do It
2
ESTATE PLANNING
3
What is an estate and why does it need a plan?
4
Any property you leave behind you after you die
is known as your estate
5
It includes real estate, personal property,
investments, and everything else you own
6
Estate planning is the process of making choices
that will affect what happens to your estate
after you die
7
PLANNING FOR ALL
8
Why do I need an estate? Im not
elderly/rich/married, etc
9
If youre an adult, you need an estate plan
10
Regardless of your individual circumstances, your
estate plan allows you to make decisions that,
if you dont have a plan, someone else will
have to make for you
11
INCAPACITY
12
What is incapacity planning and why is it
different than estate planning?
13
Should you become unconscious, unable to
communicate, or otherwise incapacitated, youll
also have an estate that needs to be managed
14
A good estate plan will address this possibility
through the creation of an incapacity plan
15
DECISIONS
16
I dont need an attorney because I can make my
own decisions and create my own estate plan
17
Theres no law that requires you to hire an
estate planning attorney
18
However, just making estate planning decisions
wont guarantee that you or your estate will be
prepared
19
All states have specific laws that apply to
estate planning
20
If you dont follow those laws, the choices you
make may not be honored
21
LEARN MORE ABOUT TRUSTS IN NORTH DAKOTA AND
MINNESOTA
LEARN MORE ABOUT ESTATE PLANNING IN NORTH DAKOTA
AND MINNESOTA
22
Click to visit www.GermanLawGroup.com