Rob, at Small Business Accounting, is a leading financial planner specializing in estate planning in Omaha. With more than three decades of experience, Rob has helped hundreds of clients plan their assets and valuables with his in-depth knowledge of the estate planning law and can avoid family strife and legal battles. Here’s why you should plan your estate and legacy:
- Estate plan helps protect your beneficiaries after your death
Regardless of your wealth, you should consider estate planning if you are the breadwinner in your family. If all you have is a second home to leave behind, you must still decide who gets it after your death to ensure the financial safety of your beneficiaries. Estate planning is all about designating heirs to your property and assets. In the absence of an estate plan, the court will intervene and decide who gets your assets. Not to mention, any claim that goes to court can take years, lead to family feuds, and rack up fees. After all, you are the only one to know which sibling should not have free access to cash and which family member has been more responsible.
- An estate plan protects young children
While nobody wants to die young, life can be unpredictable. If you are a parent of small children, you must prepare for the unexpected. Planning the will portion of your estate plan can ensure that your children receive proper care and support if anything happens to you or your spouse before they turn 18. Failing to determine guardians for your kids will cause the court to step in and decide who gets to raise your children.
- An estate plan protects your heirs from paying huge taxes
Estate planning protects your family members from the Internal Revenue Service (IRS). The goal is to transfer the assets to your loved ones without creating a huge tax burden in the process. Hiring one of our experienced estate planning attorneys can help you assign property to your heirs such that they do not spend thousands of dollars in taxes each year. Even minor estate planning can help beneficiaries reduce a large share of their federal and state estate taxes, inheritance taxes, and income tax.
- An estate plan eliminates ugly family feuds
The horror begins the moment someone with lots of money dies. Everyone in the family starts fighting for the deceased person’s assets, and the squabbling can get out of control and wind up in court. Our estate planning services can help you choose who you wish to assign control over your finances and assets in case you become mentally incapacitated or die. Our probate lawyer can prevent quarrels between family members and ensure that they get handled well after you are long gone.
There is an immediate war between the family members when the breadwinner dies. Our Omaha estate planners can help you stop the fight before it begins with our unsurpassed estate planning in Omaha. Our executor can help you choose who gets to control your finances and assets after your death. Call the Small Business Accounting firm in Omaha at 402-496-7000 to discuss your estate planning.