Estate planning involves getting your affairs in order so that you can be prepared for the uncertainties as well as the certainties of life.  The uncertainties of life are those events which may arise and have a major impact on you and your family.  This includes becoming disabled or incapacitated, requiring long-term healthcare and premature death.  The certainties of life are far less expansive; some say they only include death and taxes.

Financial and legal problems can surround all of life’s certainties and uncertainties.  You can protect yourself and your family from these problems by having various types of legal documents and insurance in place.  In deciding which types of insurance and legal documents are appropriate for your circumstances you should rely on an estate planning attorney to evaluate your financial and legal affairs.

Developing a thorough estate plan involves taking measures to avoid probate and reduce estate taxes.  It also involves establishing living trusts, wills and powers of attorney to protect you from legal problems.  Insurances such as disability insurance, long-term care insurance and life insurance should also be considered to protect you and your family from financial woes.

Neglecting to create a comprehensive estate plan can create serious disadvantages.  Without proper planning documents in place you lose control and flexibility, incur unnecessary costs, and generally make things more difficult for your family after you are gone.  Perhaps one of the greatest gifts you can leave for your loved ones is a clear plan which eliminates legal, financial and medical questions that arise when affairs are not in order.