Category: Estate Planning

Why You Need an Estate Plan (And How an Accountant Can Help)

October 23, 2023  |  Barton Walter and Krier

You may have heard of estate planning and figured it wasn’t for you. Maybe you thought you were too young or not wealthy enough to bother. The truth is everyone should have an estate plan. This important set of documents gives you a say in what happens to your possessions after you’re gone and provides other helpful ways to steward your affairs. Continue reading as we explore why an estate plan is so important and how a Certified Public Accountant (CPA) can help with yours. What is an estate? The word “estate” may conjure up images of expansive properties and mansions. But in this case, the word has a much broader meaning. Your estate comprises the sum of your possessions, including everything you own, your house, vehicles, bank accounts, investments, and life insurance policies. All these assets must be distributed to people or organizations upon your death. What is an estate plan? An estate plan is a set of documents outlining what will happen to your estate after you’re gone, and in some cases, while you’re still alive. A will is the most well-known aspect of this plan, but other documents include trusts, powers of attorney, and life insurance plans. Why is it important? An estate plan ensures you have control over who […]

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