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Having a plan to take care of your family and your assets after you pass away is crucial. Estate planning attorney Donald K. Swartz has seen firsthand what can happen without one, whether that entails not setting up a trust or failing to draft a living will. Accordingly, his firm, Swartz Law Office, explains why you need to have a plan in place.

Estate Planning Attorney Shares Why You Should Have a Will or Trust

1. Reduces Estate Taxes

You want your beneficiaries to receive their fair share of your estate. However, this may be impeded by estate and inheritance taxes. An estate planning attorney can help you ease your tax burden, thereby allowing you to provide for your family financially.

2. Allows You to Plan for Incapacity

estate planning attorneyEnd-of-life care is an essential concern for many people. By creating a power of attorney document, you can designate another person to make medical decisions for you if you ever become unable to do so yourself. This assures your final wishes are respected and provides your family peace of mind.

3. Ensure Your Business Remains Intact

If you are a business owner, you can include language in your estate plan about how to handle your affairs after you’re gone. You can even designate a successor to take over for you, which will ensure your professional legacy lives on.

4. Protects Your Family

Most importantly, a solid estate plan will protect your family. This includes providing financial stability for your spouse, as well as establishing guardianship for children who are minors.

When you’re ready to draft a will or trust, Swartz Law Office is always available to guide you through the process. Schedule your initial consultation with a Batavia, OH, estate planning attorney by calling (513) 732-0900. You can also use their convenient online contact form to get answers to your most pressing legal questions.

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