If you have not yet started thinking about planning your estate, now is the time to do it. No matter how old you are, your current health status, or which types of assets you have, it is always wise to have an estate plan in place. Without one, your loved ones could be subject to the probate process, intestacy laws, and high taxes on your assets.
The most effective way to plan your estate is to work with an estate planning lawyer. There is more to estate planning than simply writing a will; you will want to consider an advance medical directive, beneficiary designations, and a power of attorney designation. You might also want to make use of trusts to preserve your assets for your loved ones or include charitable giving in your estate plan.