The Basics of Estate Planning: Creating a Plan as Unique as You Are

What is it about estate planning that puts us off? It takes the average person several years between considering their estate plan and actually creating the documents needed to pass their property and wealth down to their heirs. Whether you are just beginning to create your will or have boilerplate documents on file, we can show you how to create a plan that will let you sleep at night.

The Basics of Estate Planning

There’s no denying that the world of estate planning contains complex ideas, legal tricks and tools, and confusing terminology. Our firm has created a Masterclass in Family Wealth Preservation to get to the heart of estate planning, helping you to confidently make decisions that will affect your family for generations.

Watch Our Family Wealth Preservation Masterclass

Before we get started, ask yourself the following questions:

  • What if my plan was activated tomorrow? When you plan for your passing, you have control over who will inherit your property, and you can protect vulnerable family members. You can also maximize how much of your holdings are preserved. If you don’t have an estate plan, the state has a plan for you—and it may not be in keeping with your wishes or take your specific circumstances into account.
  • When was the last time I looked at my estate plan? If you haven’t reviewed your documents in the last three years, they are probably out of date. Three years may not seem like a long time, but consider this: have you had new additions to the family in that time? Lost family members? Moved to a different state? Bought or sold property? Have you invested in a new business or split from your previous business partners? Any one of these can have significant consequences for your estate plan.
  • What is most important to you? What is your biggest worry if you were suddenly not around anymore? Is your first thought about preventing creditors from taking your home or getting your heirs instant access to their inheritances? Do you want to leave something for grandchildren or great-grandchildren who have not yet been born? Sometimes knowing what you don’t want is the best way to avoid it.

We Focus on the Details to Give You Peace of Mind

Every estate plan is distinctly personal. Your final wishes—and the methods you use to see them through—will be as unique to you as your fingerprints. Like you, your plan doesn’t sit on a shelf; it grows and changes over time. We partner with you from start to finish, creating your documents and performing regular reviews of your estate plan to keep everything on the right track.

Your estate planning advisor at our firm can:

  • Put “what ifs?” to rest. Estate planning offers a myriad of ways to save money, pass on property, control business assets, and address taxation on your holdings. We can lay out your options, explain the implications of certain decisions, and find the most effective and practical solutions to achieve each of your goals.
  • Set you up for success. Your estate plan may not be activated for decades, but it can inform the choices you make today. Once we have gathered the necessary information and documentation, we help you implement changes during your lifetime that can grow your wealth and allow you to thrive on your chosen path.
  • Leave nothing on the table. We execute documents and perform trust funding as part of the Yolofsky Law service, ensuring that your plan is legally binding as soon as possible.
  • Test drive your plan. One of the vital services we provide is “test driving” your estate plan to ensure it will work as intended. A member of our firm will open your estate plan and go through it step-by-step, explaining what would happen to each of your properties and relations if you passed away today. This allows us to discover any potential problems and correct them before the plan is activated—something most people will never get the chance to do.
  • Preserve your legacy. The documents in your file will have financial protections and tangible items to pass down, but that is a fraction of what you are. With legacy planning, a piece of you can be left to future generations, allowing them to seek your advice, follow in your footsteps, and learn from your mistakes.

At Yolofsky Law, we don’t just draft documents. We help you make informed and empowered decisions about life and death, both for yourself and the people you love. As your Personal Family Lawyer®, we can help you articulate your wishes and legally protect your loved ones for years to come. Give us a call today to discuss your options.

Related Links:

Vital Documents All Floridians Should Have in Their Estate Plans

To Halve or to Hold: Estate Planning for Married Couples

Estate Planning for the Modern Family