What is Estate Planning? Savannah Georgia

If you’re an adult, you need to have a plan for your estate. Often when people hear “estate” it forms pictures in their minds of grandiose homes, luxury vehicles, and an abundant cash flow. The truth is, estate planning is not just for the wealthy. Everyone can benefit from an estate plan, even those of modest means.

Estate planning helps to ensure that your wishes are carried out. No matter how big your estate is, one day you will want to pass it on to your loved ones.

So, what exactly is Estate Planning?

Estate planning is when you have efficiently planned the disposal of your accumulated estate.

What is My Estate?

In simple terms, your estate is everything you own:

• House
• Car
• Bank Accounts
• Furniture
• Personal Possessions
• Investments

Why do you need an Estate Plan?

Life is short and has no guarantees. When there is an estate plan in place it helps to make sure that your loved ones are cared for and that the distribution of your estate will be as easy as possible.

A good estate plan will also be an ongoing process. Over the years you will likely experience significant life changes that will require updates to your plan. Even if there are no big changes, you should review your estate plan every few years to ensure all information is correct.