Practical Law Presentations Putting a Legal House in Order Estate Planning Planning your estate is about caring for your loved ones, seeing that they are provided for, and making sure your hard-earned property is distributed according to your wishes. Your estate consists of all your property, including: your home and other real estate, tangible personal property such as cars and furniture, and intangible property like insurance, bank accounts, stocks and bonds, pension and social security benefits. An estate plan is your blueprint for where you want your property to go after you die. Not Just for the Elderly Estate planning is emphatically not only for older people. Too many young and middle age people die suddenly, often leaving behind minor children who need care and direction. Estate planning should be part of your overall financial plan, along with your children's college tuition and your retirement needs. If your circumstances change, it's easy and inexpensive to adjust your plan. What Happens If You Don't Plan If you die without a will or trust, you've in effect left it to state law to write your will for you. That means the state will make certain assumptions about where you'd like your money to go,assumptions with which you might not agree. Some of your hard-earned money might end up with people who don't need it. Meanwhile, others who might need the money more, or who are more deserving, could be shortchanged. And surviving relatives may squabble over who gets particular items of your property, since you didn't make these decisions before you died. >>Putting a Legal House in Order Home >>Estate Planning >>What Is a Will? >>10 Things Estate Planning Can Do for You >>Preparing a Will >>Protecting Your Property >>Health-Care Advance Planning Reaching the Community Home | Practical Law Presentations Home