It is a no-brainer for rich folks, that they must have a plan for their estate at the time of their passing. They don’t want to be hassled with unnecessary taxes that will take a significant chunk of their life’s earnings away.
However, maybe the rich folks have it right. Regardless of your lot in life, a comprehensive plan is a must. Even if you have only made just enough to get by at the time that a plan would be necessary, the process that will divvy up your wealth can take up to 40%.
Whether you make $10,000 a year or $100,000, that is very significant. That is money and belongings that belong to your successors, not to the government.
That being said, the plans that you must follow can and should be different based on the size of your wealth. Just because both the rich and the middle class need estate planning doesn’t mean that they need the same KIND of plan.
It is very important that your estate lawyer is well versed in the requirements for a solid estate plan for every walk of life. As in any profession, finding a good practitioner can be difficult. That is why the lawyers of the Coppola Law Firm, have come together in one place: to give you the opportunity to have a great estate lawyer.
The importance of an estate plan supersedes social barriers. Don’t settle for less when it comes down to something so important.
Category: Estate Planning