Estate Planning

Simply put: Estate planning is a generic term for mapping out how you want your personal and financial affairs to be handled at your death or incapacity and taking steps now to make carrying out your plans as easy as possible for your loved ones when the time comes.

Estate planning is important regardless of age and net worth. Some people believe they do not need estate planning, consider it too costly or terribly involved, or just do not want to think about it. But having a plan in place to convey your wishes not only protects you but makes handling your affairs much easier for your loved ones at a difficult time.

An estate plan allows you to designate who will receive your property and who will care for your minor children and pets when you pass away. Your estate plan will also specify who will manage your property and make medical care decisions during your lifetime should you become legally incapacitated. A good estate plan ensures that your wishes will be known and carried out in the most efficient way possible and will help provide clarity in order to minimize confusion and strife between family members upon your death or incapacity.

A good rule of thumb is to consider creating or updating plan when you experience major life changes, such as:

• Getting Married or Divorced
• Having Children
• Purchasing Property
• Extensive Travel
• Accruing or Inheriting Significant Wealth

A Will is a legal document that ultimately provides instructions on how to distribute property to beneficiaries at your death, but a Will also sets forth guardianship of minor dependents, appoints a personal representative, and sets forth the powers of the personal representative to handle your estate. A Trust is a more complex legal arrangement that allows you to transfer ownership of property, is managed by a Trustee, and is distributed to beneficiaries at any time determined by the creator of the Trust. There are several reasons why one would benefit from having a Trust as opposed to a simple Will, and it is important to be informed to make the right decision for your situation.

At Buist Byars & Taylor, our process usually starts with our support staff asking a few initial questions by phone or email and sending you our brief initial questionnaire. We then schedule an initial conference with one of our attorneys. During this conference, the attorney will determine the scope of an individual’s needs and factors involved, provide recommendations, and advise regarding timeframe, process, and estimated fees.

We strive to be transparent and upfront about costs, but there is no set “rate sheet” as individual needs vary. Our team is personable and responsive, and we seek to help clients feel at ease in the process.

Reach out today to learn more or to schedule your initial call:

CLICK HERE or call Emma Daisey at (843) 284-1415.