How Does Estate Planning Protect My Money? (Video)

How Does Estate Planning Protect My Money?

Hi. I’m Gary the owner of DeWitt law. We take care of you so you can take care of your family. Start now at DeWitt dot law.

If you put somebody else, like a child, on your accounts or house, then their creditors are your creditors too. If they get in an auto accident and get sued, then you get sued too. If they get in tax trouble, then it’s your tax trouble too.

Proper planning keeps your children’s names off your property, but gives them the right to help you manage.

Estate Planning also protects your money in three important ways. But they all share a common theme. That theme is protecting your privacy.

First, proper estate planning protects privacy. If you don’t plan, then your private financial information will be made public in probate or guardianship. Financial predators watch for this information and try to separate you and your family from the money. They aren’t always ill intentioned people. For example, your family may see more credit card offers during a probate. But some of them are outright bad folks looking to steal.

Second, estate planning lets people manage and protect your money when you can’t. Whether you are just out of contact or incapable of making decisions, somebody you know and trust will be there for you. If you don’t have somebody named, then your family may end up in court to get permission to make your decisions. This will make your financial information public. Not to mention, the Judge gets the final say in who will manage your money. It all has to happen under a Judge’s control following State law.

Third, estate planning makes probate a thing of the past. No probate means no publicity. It means a quick, easy transition of your property to your family. Without a plan, your family ends up in probate, publicizing how much money you had. And their names and addresses have to be published as part of the public record. This means that they lose privacy too.

We take care of you so you can take care of your family. Start now at DeWitt dot law.