Creating an estate plan is one of the most loving things you can do for your family in Connecticut. This plan helps bring them peace of mind at the time of your death that you are carrying out their wishes.
Give your assets as you want
Creating an estate plan allows you to give your assets to whoever you want at the time of your death. This eliminates the need for a judge to decide who gets what property because they may end up with something they do not want. Furthermore, it creates peace of mind for your family that your wishes are being carried out. It also ensures you name someone you trust to oversee the asset distribution.
Can eliminate taxes
Depending on how you divide up your property, your estate may not have to pay taxes at all. At a minimum, the state and federal tax bills can be much smaller. Furthermore, you can structure your estate plan so people getting your assets pay a smaller tax bill.
Protects your children
When you create an estate plan, everyone knows who you want to raise any minor children. You can even designate one person to care for them and select a different person to oversee their finances. If you have family members with special needs, you can set aside money in a special needs trust to care for them without hurting their government program eligibility. Even if none of those situations apply to your scenario, estate planning often keeps people from squabbling over what you left them at the time of your death.
If you want to leave a legacy for your family, then create an estate plan. It will give everyone peace of mind at the time of your death, which can be an emotionally rough time for your family.