Every person has assets. This is true for the billionaire who owns companies across the globe as well as the individual who possesses nothing other than the clothes on his or her back. Protecting these assets is essential, regardless of how much the person is worth.
However, many people forego estate planning until their later years, as they feel they do not need to take this action at an earlier date. As a result, they leave these assets unguarded in the event of their early demise. For this reason, every person who has reached adulthood should see an Estate Planning Lawyer in Columbus IN immediately to determine where their assets will go if they died.
People spend their lives building wealth only to have the IRS constantly holding out their hand for a share of those assets. When a person dies, if they have not properly planned their estate, the heirs may find they owe a large tax bill. By planning of time, a person can reduce this tax burden significantly. Even small changes to a plan can make a big difference, thus people should not delay this step.
A person may state they wish a particular asset to go to a specific loved one. However, if this information is not written down, a disagreement may arise between the loved ones. An estate plan clearly outlines which assets go to which individuals to ensure the death of a loved one and the distribution of his or her assets does not lead to a split in the family and that everyone gets what they have been promised over the years.
Now that you are ready to see an Estate Planning Lawyer in Columbus IN to handle this task, you need to find one that meets your needs. Many individuals turn to Alcorn Sage Schwartz & Magrath LLP for help in preparing for the future. They handle these matters routinely and can assist you in developing a plan that fits your circumstances and protects the assets you have amassed over the years. To learn more about this firm and how they can be of assistance, click here.