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The Dangers of Planning for Your Estate After a Crisis Hits

August 9, 2017

Estate planning is always important, but most people are uncomfortable looking towards a future and considering the possibility of incapacity or death.

Waiting too long to consider asset protection, estate planning or business succession planning could expose you to major risks. Although there are still steps that can be taken to minimize the outcome of these problems after a crisis has struck, it is far better to do the diligence ahead of time to plan for a potential problem. Being caught in the midst of a legal conflict or a complicated issue can generate a great deal of stress and unnecessary confusion. a crisis and estate planning

Handling these issues well in advance by sitting down and talking them over with an experienced lawyer can help you identify where your estate is currently exposed to risk or jeopardy. Waiting too long to put together an estate plan or articulating how you intend for your business to be transferred to another person, for example, could make it difficult if you are suddenly incapacitated.

If you were unable to speak for yourself and these decisions had to be made, this could generate conflict within your family. It is far better to schedule time to consult with a lawyer about your own intentions so that your beneficiaries are empowered should something suddenly happen and so that you minimize the chances of confusion or conflict.


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Schedule your free Exploratory phone call

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can be of assistance.

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listings and become a part of an amazing team.

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Listen in, Join the Conversation!

Recent Posts
Do You Owe The AMT?

American educational reformer Horace Mann called education “the great equalizer.” In football, it’s been said ...

See more
What is the Value of Your Business?

In the second quarter of 2023, more than 2,300 small businesses were sold. The median ...

See more
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more