What is the importance of estate planning?
What is the importance of estate planning? Assistant at Ascent Law LLC Assistant at Ascent Law LLC The importance of estate planning is that it allows you to have the freedom and power to decide how your assets should be distributed after your death. Without it, you leave the distribution of your assets up to the probate court and their guidelines. According to the Center for Retirement Research at Boston College, over half of Americans die without a will. This means that there is no guarantee that your assets will even go to people that you want them to. To ensure that your assets go where you want them, you need a plan in place. Estate planning is the process of organizing your assets and making decisions about how they'll be distributed after you die. Decisions you make will affect your loved ones, and this is often a source of stress for people. You can reduce your family's stress by creating an estate plan. The first step in estate planning is to create a will, which tells...