WHAT ARE THE RISKS OF FAILING TO MAKE AN ESTATE PLAN?
James F. Malinowski's Answer
Thorough estate planning gives family members assurance that affairs will be managed properly, no matter what the future brings. Without the proper documents in place, your estate can end up in Probate Court, both while you are alive and after your death. At that point the Judge will make decisions about your well-being and your assets based on the law, not based on your wishes. Not only does the Probate Court make legal decisions, but your assets are subjected to unwanted expenses which may considerably diminish the estate’s value. With proper documentation from a well-executed estate plan, your assets will be protected from the unnecessary financial burden of going through a lengthy probate process. The proper choices of asset protection in advance will provide long lasting benefits for the preservation of your estate.