Estate planning deals with difficult subjects: death and taxes. For this reason, people often avoid creating any kind of estate plan. However, not having an estate plan can leave your family with a giant mess to clean up and a reduced inheritance, or often, no inheritance. You don’t have to re-invent the wheel when it comes to estate planning. The basics are:
1. Who is going to make decisions for you if you become disabled?
2. Who will manage your estate after you die?
3. Who is going to get your stuff, how and when?
That’s estate planning in the simplest of terms!