In reality, everyone has an estate. Whether they own golf balls, baseball bats, shot guns or bird dogs, they have an estate. Not all estate plans are complicated and we are here to help you. After doing this for 35 years I have come to realize a couple of things that are definitely true. One is that everyone does have an estate and two, some people either don’t want to address the issue or they may not know where to start.

Estate planning, in essence, is this; creation, conservation, and distribution of assets under the most favorable tax laws. First, let’s look at creation. We buy cars, houses, boats, and planes and yet we may not have a will in place. This may not be the best strategy for you. Secondly, we may not conserve appropriately. We spend and spend and spend and yet may not take the time to establish a budget.  Again, that’s bad estate planning. Thirdly, distribution… if you don’t have a will or are not planning to get a will, the fact is, you already have a will. It’s called “intestate”. The state in which you reside will decide where your assets go based on heirship. Again, bad estate planning.

So really, everyone has an estate. They don’t want to acknowledge it or they think theirs is too small. What do you do now? You make the decision to do something and then act on it. Find someone you trust who has the knowledge to help you make the most rational decision based upon your personal situation.

In conclusion, Estate Planning 1.01 is not that difficult. We just want to make it so.


Continuum Planning Partners Post Author
J. Randolph Flatt

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