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4 Reasons Why Estate Planning Is Important

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Discuss Your Elder Law Options with An Attorney

When you hear of an estate, you may think of large mansions, great wealth, stock, and valuable portfolios and possessions. However, estate planning is no longer for the ultra-rich. Instead, it simply gives you a say of how things will be given to your loved ones after you leave.

If you fail to make these plans and decisions while alive, the state and the law validate the court to make them for you. Such plans may not suit you or your family’s desires. Call Robert M Goldberg & Associates, PC today in Georgia, Atlanta and let us help you make a plan.


Infographic - Why Is Estate Planning Important?

Estate Plans Protects Beneficiaries

The idea that estate planning is for high net-worth individuals has changed. Currently, middle-class families are obliged to plan in case anything happens to the breadwinner. After all, you don’t have to be a billionaire to feature in stock markets or venture into real estate.

When it comes to your assets, even if it’s a second home, estate planning helps decide who gets them after you’re gone. The court won’t know which members of your family are more responsible and deserving of your assets.

estate planner showing a tablet to an elderly couple

mother kissing toddler

Protects Young Children

No one anticipates dying young, but if you have young children, it’s essential to plan for the unthinkable, and this is where an estate plan will come in. To ensure that your children get care in your approved manner, you’ll want to list their guardians in the event of both parents’ death before the kids are 18. Without a will, the court independently decides who will raise your children.

Heirs are Spared a Big Tax Bite

Estate planning is all about keeping your loved ones safe, and part of that is giving them immunity from the Internal Revenue Service (IRS). Transferring the assets to your heirs is essential in carrying the least possible tax burden.

Couples can reduce the most and even the entire federal and state inheritance taxes with estate planning—moreover, there are ways to condense the amount of income tax payable by beneficiaries. However, without a plan, Uncle Sam will demand quite a lot from your heirs.

estate planner smiling at client

people having an argument over a will

Eliminates Family Messes

We have all heard stories where family fights begin immediately after a family member with money dies. One sibling may think they deserve more than others, while another may assume they have the right to control the family wealth.

An estate plan helps to stop these fights before they even begin. In addition, it goes a long way in choosing who will control your wealth in the event that something happens to you.

Estate planning has become one of the most important decisions anyone with assets in the modern world can make. Since it can be challenging to do by yourself, a professional assistant from Robert M Goldberg & Associates, PC in Georgia, Atlanta can help you. Discuss your elder law options with an attorney today!

At Goldberg & Associates, we specialize in handling elder law and elder law cases. All of our resources are at your fingertips when you work with Goldberg & Associates. We will do everything in our power to ensure the maximum amount that can be saved, will be saved for your retirement. No stone goes unturned at Goldberg & Associates; we are prepared to make sure you do everything you need to in order to max out those savings options, and make way for the time when you will get to retire.  

Bob Goldberg

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