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Dream Board: 5 estate plan goals you need to set

If you are coming up with an estate plan for your family, there are many things that you should keep in mind. You want to make sure the estate plan accomplishes its main purpose, which is making sure that your immediate family members are taken care of once you are gone. It would be a good idea to consult with an estate planning lawyer in Fairfax, Virginia if you find that you need help with this process. There are certain goals that you should keep in mind as you go through this process as well.

  1. It is very important to keep in mind financial security for you and your loved ones, as this is the priority of legacy planning in the first place. It may seem paradoxical, but you need to put yourself and your financial situation first during the legacy planning process, as you will not be able to adequately provide for your loved ones if your own financial situation is poor.
  2. It is also important to consider who will be continuing the caretaking and management of your estate, including any businesses that you may own. You need to make sure that there will be someone to take care of your affairs once you are gone.
  3. You need to make sure that the estate is protected from other family members, particularly in the case of divorces and conflict situations.
  4. It is also very important to make sure that the taxes are as low as possible when you are transferring the wealth.
  5. The final thing that you should do is make sure that everything that you have outlined fits well together and can actually be put into practice.

If you feel like you are having trouble getting started when you are coming up with an estate plan, it would be a great idea to contact an estate planning attorney Fairfax VA has to offer. Robert B. Walker is an estate planning lawyer with the experience and expertise to be able to answer any questions that you may have and give you any guidance that you may need when dealing with this matter.