33 Things Estate Planning Can Do For You

by Karen L. Brady

This post is the first of a series on the goals that you can achieve when you engage in estate planning with a qualified attorney. I don’t think anyone has all of these goals, but everyone has at least one.

In this post, I’m just going to list some of the goals that I help my clients achieve. I’ve resisted the temptation to list them in any particular order, choosing instead to keep them in the order in which they came to mind.

In later posts, I’ll explain each goal in more detail.

1. Assures those you want to benefit will benefit.
2. Minimize Family Conflicts by Anticipating and Planning for Them and Naming Trusted Helpers to Act
3. Ease the Way for Survivors In the Event You are Disabled or Die
4. Speed Up the Process By Minimizing Court Involvement
5. Keep Your Affairs Private
6. Protect Your Spouse’s Inheritance from Remarriage, Creditors, and Predators
7. Protect Your Loved One’s Inheritance from Divorce, Creditors, and Predators
8. Protect Your Loved Ones From Frittering Away Their Inheritance
9. Provide Flexibility for Survivors to Tweak Your Plan After You Are Gone TO Provide For Changed Circumstances
10. Avoid the State’s Plan For Your Estate
11. Make Sure There is Money for Education
12. Provide Incentives For Loved Ones to Act As You Would Wish
13. Keep the Court Out of Your Affairs When You are Disabled
14. Name and Instruct People To Honor Your Values
15. Name and Instruct Guardians for Your Children
16. Name and Instruct Managers for Your Children’s Inheritance
17. Minimize the Possibility Your Estate Will Be Contested in Court
18. Keep Your Ex-Spouse Out of Your Affairs
19. Provide for The Special Circumstances of Your “Blended Family”
20. Disinherit Someone if Needed
21. Adjust Inheritances Based on Lifetime Gifts
22. Help Your Favorite Charities
23. Acknowledge Special People in Your Life
24. Provide For Those Who May Need Your Financial Help If You Are Disabled
25. Provide for Your Pets
26. Continue The Operation of Your Business
27. Plan For Future Generations to Enjoy A Vacation Home
28. Plan for Generations Yet To Come
29. Make Your Wishes Clear About Your Health Care
30. Provide For A Loved One With Special Needs Without Jeopardizing Assistance
31. Provide You with Peace of Mind
32. Pass On Your Values, Instructions, and History
33. And…. oh yeah, save taxes. That will be the subject of several more posts in the future.