Before you can create the documents, strategies and tools that form the basis of your estate plan or elder law plan, you need to know your objectives. This will help to guide your conversation with an estate planning lawyer and ensure that you select the strategies and tools most aligned with those goals. Some of the most common objectives include:
- Saving on income taxes right now.
- Providing for surviving family members or a spouse.
- Leveraging opportunities to save on gift and estate taxes later.
- Providing for your children now or establishing a plan to provide for minor children in the future.
- Giving philanthropically to charity.
- Providing for retirement income.
- Meeting family educational costs.
- Management of asset strategies in the event that you become incapacitated.
- Planning ahead for the possibility of long term care and protecting your interests.
With all of these different objectives in the back of your mind, creating an estate plan is a very unique process because it is tailored to you. It is about what is most important to you and what you hope to accomplish over the coming months and years. For more information, set aside a time to speak with a dedicated and trusted estate planning lawyer so that you can have a strategy in place that makes you feel confident about the future.
No matter the reason for your personal estate plan in NH, now is the time to get organized.