Why Is Estate Planning Important?

Passing away without a Will- also called dying intestate- means that courts ultimately decide who receives your assets. To prevent that scenario, you should write a Will and update it regularly. Additionally, planning can allow families to avoid nasty time-consuming and expensive probate court proceedings. Planning reduces family disputes.

• The probate process can cost up to 10% of an estate.
• Today in Orange County it takes 2 years or more to probate an estate!
• 35% of American adults say that have personally experienced family conflict or know someone who has experienced family conflict as a result of not having an estate plan or Will in place.
• Peace of mind is the top benefit of estate planning.
• 52% of Americans believe passing away without an estate plan would be “irresponsible.” Meanwhile, 22% say it would be “inconsiderate,” and 14% say it would be “ignorant.”
• 71% of American adults say that having an estate plan would make them feel like a good spouse or parent.

Call W. Bailey Smith, a certified estate tax attorney at (949) 833-8891 today. Bailey is an experienced attorney who has created over 7,000 estate plans!