A

Do I need an estate plan if I don’t have a lot of money or property?

Category: Estate Planning

Yes, estate planning is important for everyone, regardless of what they own. At a minimum, you are ensuring only the people you trust the most can manage your affairs if you become seriously injured, ill, or disabled. You can even disqualify people from acting on your behalf. You can also dictate who would have physical care of minor/disabled children, as well as who would manage money for those children. When it comes to someone passing away, there are only a few different legal processes available to access bank accounts and transfer title to real estate. The cost of these processes is a much larger burden for small estates that do not involve proper estate planning. With proper planning, using an experienced estate planning attorney, sometimes these expensive processes can be avoided altogether.