Who needs an estate plan?

“Estate planning is not just for the wealthy.”

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The need to establish an estate plan has nothing to do with your gender, age, marital status, or economic standing. If you are a person over the age of 18 and have an interest in protecting your children, protecting yourself during potential incapacity, and/or ensuring that your assets pass to the right people or charitable organizations, then you have a vested interest in setting up an estate plan. Unfortunately, estate planning does not provide a “one size fits all” model. Rather, your unique circumstances require unique planning strategies. Here are some frequently encountered families and individuals who establish an estate plan: 

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• The family with minor children

• The blended family (Children from a prior relationship)

• The family with adult children

• The individual with minor children

• The individual with adult children

• The unmarried couple (With or without minor children)

• The business owner

• The individual without children