7 Key Considerations for Effective Estate Planning
Estate planning is the process of preparing for the transfer of a person's wealth and assets after their death. While most people tend to think of estate planning as simply writing a will, there are many other important considerations to take into account when planning for the transfer of your estate. In this article, we will discuss some special considerations that you should keep in mind when planning your estate. 1. Special Needs Planning: If you have a loved one with special needs, it is important to make special provisions in your estate plan to ensure that their needs are met after you are gone. This can include setting up a special needs trust, which can provide for their care without impacting their eligibility for government benefits. 2. Business Succession Planning: If you own a business, it is important to consider what will happen to the business after you are gone. Business succession planning can help ensure that the business continues to thrive and that your employ