Estate preservation addresses Saving & Planning for your future. Estate preservation involve financial, tax, medical and business strategies. A properly drafted estate preservation plan will allow you to designate; how, by whom, & when you would like your assets distributed. Questions?
Your estate consists of property, money, an interest in business, investments, and all other assets that you have managed to acquire. Preserving your estate means protecting yourself and your heirs from losing all that you have worked for.
Estate preservation involves taking steps to make sure you don’t end up losing property due to mismanagement in case of incapacity, and taking steps to make sure you don’t end up losing all of your wealth if you have to face high nursing home bills.
It also involves ensuring your heirs do not squander the inheritance you have left to them, and do not lose the money you have left to them in divorce, bankruptcy, or as a result of claims made by creditors.
There are a wide variety of different legal tools which can be used as part of the estate preservation process, including revocable and irrevocable trusts; incorporation of business interests; a power of attorney in case of incapacity; and a last will and testament to provide instructions for asset distribution. Making the smartest use of all of these legal tools is essential to preserve the value of the estate you have acquired over your lifetime of hard work.