At the Law Offices of Kenneth McRae, LLC, we believe it is important that your estate plan is both practical and affordable. Many people do not have a big enough estate to incur state taxes. As a result, they may not need to pay advanced tax.
Develop a Simple or Complex Plan
Some individuals want to delay estate planning because they hope that their assets and property will grow substantially over time. A simple will or trust can address the basics — like disposing of property and recommending a caretaker for young children — without the expense of a complex estate plan. Because a will can amend over time, you can start with a simple will and, as your estate grows, make changes to reflect your changing situation.
If you are considering a will, trust, or power of attorney, contact the Law Offices of Kenneth McRae, LLC to discuss your options. We are also happy to help if you want to review an existing estate plan to see if changes are needed. No matter where you are, it’s important to at least start on a plan. It can be tweaked over time, but if something were to happen to you before you have a plan in place, it’ll be too late to make sure your loved ones are cared for.