YES. But your family may not like it. The government’s estate plan is called “Intestate Probate” and guarantees government interference in the disposition of your estate. Documents must be filed and approval must be received from a court to pay your bills, pay your spouse an allowance, and account for your property–and it all takes place in the public’s view. If you fail to plan your estate, you lose the opportunity to protect your family from an impersonal, complex governmental process that can become a nightmare. Then there is the matter of the federal government’s death taxes. There is much you can do in planning your estate that will reduce and even eliminate death taxes, but you don’t suppose the government’s estate plan is designed to save your estate from taxes, do you? While some estate planners favor Wills and others prefer a Family Wealth Trust as the Estate Plan of Choice, all estate planners agree that dying without an estate plan should be avoided at all costs.
About Maria V. Primushko
As the founder of the law firm, attorney Maria focuses her practice on helping families with estate and legacy planning, as well as other legal matters such as Personal Injury and Bankruptcy Protection. Her goal and that of her team is to provide personalized support and guidance that creates peace of mind for all clients and families, no matter how big or small their estate is.