Estate planning is something that everyone should consider – even if you think you won’t need it. The truth is, no one knows what the future holds and there may come a time when you need to leave your loved ones something in your will. 

The Different Types of Estate Planning

Here are a few different types of estate planning:

1. Testamentary Planning: This type of estate planning aims to ensure that your wishes are carried out after you die. You may want to make specific provisions about who will inherit what when they will receive payments, and how the assets will be used.

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2. Probate Planning: Probate is the process of administering an estate after a person dies. The probate court-appointed executor will gather assets and distribute them as instructed in the deceased's will or other legal document governing their property.

The Purpose of Estate Planning

There are many different reasons why you should have an estate plan in place, and here are just a few:

1. Estate planning can help protect your assets from creditors and other unwanted parties.

2. Estate planning can help ensure that your loved ones are taken care of financially after you die.

How to Determine if You Need Estate Planning

If you are contemplating estate planning, there are some important things to consider. One of the first steps is to identify your unique needs and goals. Once you have a good understanding of what you want, it is important to consult with an estate planning attorney who can help you create a plan that meets your specific needs and objectives.

There are a few key factors to keep in mind when creating an estate plan:

-Your objectives – What do you want your estate to be used for?

-Your preferences – Do you want to leave everything to your children outright? Or do you want smaller amounts distributed throughout their lifetimes?