Contrary to common perception, estate planning is much more than transferring property at death. As we frequently see in the tragic cases of public figures like Whitney Houston, James Gandolfini and Prince, a lack of planning altogether, or a lack of planning beyond the basics, can lead to tragic results. Proper estate planning can provide you are cared for as you wish during a disability, can encompass passing non-financial wealth like values and goals to children, grandchildren, and in some cases, generations beyond. Through estate planning you can also incentivize descendants to seek higher education and/or remain active in religion; you can reward them for pursuing occupations you deem important; you can teach the importance of philanthropy and charitable giving; and, in most cases, you can leverage your lifetime of hard work into a lasting legacy in the local community and beyond.
