Estate Planning

Who Needs Estate Planning?

In general, anyone who has ownership in real or personal property should perform estate planning for those properties. This includes the following: 

  1. ·Anyone who owns property alone, as tenants in common (TIC), or as community property.
  2. ·Anyone owning assets in multiple states.
  3. ·Anyone who has dependents.
  4. ·Anyone who owns a small business. 
  5. ·Anyone who may become incapacitated prior to death.
  6. ·Anyone who wants to make a transfer of wealth.
  7. · Anyone who owns assets that may be subject to tax and want to reduce the taxes involved in transferring these assets.

The question really becomes not "Who needs estate planning?", but "How simple or complicated does the estate planning really need to be?

The answer will depend on your particular financial, marital, and family situation. 

Contact LRJ&A to discuss how to apply these planning tools.