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Diamonds and Pearls of WisdomThe DivorceWizards Blog, by Lynne DiamondEstate Planning Basic InformationWednesday, December 27, 2006 Estate planning is a topic that most of us would rather avoid. Part of maturing is facing these issues and providing for your children and your property which you have worked so hard to accumulate. Sometimes life's events trigger the desire to get this done and over with. During a divorce or after the death of a parent, estate planning may take on new meaning for you. We can simplify this process.A living trust is a plan - a plan to care for your loved ones, your children and property - when you pass on to the next place in the journey of life. If you don't have a plan, your state of residence takes over. Think D.M.V. Do you want those folks handling your affairs when you go? When a person dies, their estate is governed by probate, the legal process for paying their final bills, distributing their property and determining the guardian for any remaining minor children. Probate is a lengthy process, the average case taking one or two years to complete. Often assets are frozen pending Court orders. It is also costly with it's court, legal and probate fees. And, like most other court hearings, it's public record. A living trust is an alternative to probate. Once established, with all of your property properly titled in the name of the trust, it's very easy for your successor trustee to handle your affairs. The process is much quicker, less expensive and more private than probate. There is no need for your assets to be frozen, no requirement about publication of your death be made and your affairs remain very private, a comfort to your family in their time of despair. To get started on your estate plan, please visit the below link: Divorce Wizards Estate Plan |