The Importance of Estate Planning in Salina, KS

by | Dec 12, 2014 | Lawyers

If you’re planning for the future, you need to consider the inevitability of your death. If you have a family that you wish to provide for in the event that you were to die, you’re going to need a rock solid plan in place. For this reason, many people turn to financial experts and legal professionals for comprehensive Estate Planning in Salina KS.

The important thing to understand is that estate planning isn’t simply for people who are wealthy. For example, if you have a life insurance policy that is payable upon your death, it’s wise to have a proper estate plan in place to ensure that the money that is paid from that life insurance policy is disseminated properly.

If you have assets, whether you’re simply well-off or you are extremely wealthy, having an estate plan makes a great deal of sense. What this does is it helps for your assets, whether its property or cash, to be distributed pursuant to your wishes after your death. However, it can also help you today. Proper estate planning will allow your assets that are going to be disseminated to family, friends or organizations do have the sort of tax shelter that is needed.

It’s a fine idea to want to give assets to your children or to your spouse in your last will and testament. However, without proper Estate Planning in Salina, KS, you may leave your children and your spouse with a rather sizable tax bill. With proper estate planning, you’ll shelter your assets from a fair amount of taxes, allowing your family to have a much easier time with the assets that you give to them upon your death.

There are many complicated aspects of estate planning, which is why financial professionals and legal professionals should be consulted. In fact, many people in the Salina area of Kansas turn to the law offices of Hampton And Royce L.C. These legal professionals can assess your situation, take into account your wishes for your assets upon your death and create an estate plan pursuant to that. If you already have a plan in place and need to make changes, this firm can help you to amend your existing plan to represent your current wishes.




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