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Estate planning is a crucial part of adult life, no matter what age you are. Young singles, parents, and elderly individuals all have reasons to hire estate planners and create important documents for peace of mind. Here is how wise estate planning helps secure your quality of life and a bright future for you and loved ones

When Do You Need Estate Planning?

1. Provide for Minor Children

Estate planning attorneys guide their clients in drafting wills, giving parents the ability to name guardians for their minor children and children with special needs. Parents, grandparents, and other individuals can create trusts and name trustees to manage assets for their own and their loved ones’ care, education, and support.

2. Plan for Retirement

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Complex tax and pension laws increase the need for experienced help in making financial decisions that affect retirement. Estate planning attorneys provide couples and singles with advice on buying insurance and investing in stocks, bonds, IRAs, and 401(k)s. They keep up with changing regulations, work with CPAs, and consult other financial professionals to help clients maximize investments and build wealth.

3. Safeguard Business Goals

Current and prospective business owners benefit from working with estate planning attorneys who help them reach goals and pursue dreams. Choosing a form of business ownership, and life, health, disability, and business insurance policies are among the issues estate planning professionals help owners resolve. Planners give guidance on transferring enterprise assets to the next generation, selling or expanding a business, or winding it down for closure.

 

Estate planning is a continuing process that benefits adults of all ages. Attorney Stuart R. Norman Jr. offers wise counsel and more than 40 years of experience providing legal services to clients residing in New London County, Connecticut. Whether you need representation in estate planning, real estate, or elder law matters, visit his website or call (860) 376-0069 today to make an appointment.

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