Legal experts provide practical advice about why it’s so helpful to have an estate plan—even if you do not have many assets. Estate planning means having more than a will or trust. Here is a helpful overview—and encouragement to get planning.
Think Comprehensively
Having a last will and testament is vey important, and in some cases, trusts can be helpful too. However, a complete estate plan, goes further. Cushing & Dolan emphasize that estate planning is not just for the wealthy, since all families can benefit from passing assets forward, intentionally, and smoothly. As these legal experts explain:
Some people believe that estate plans are just wills or trusts, but the reality is that an estate plan should have beneficiary designations, a letter of intent, guardianship designations, health care power of attorney documents, a durable power of attorney appointment and other legal documents included as well.
An estate plan is about more than just passing on your assets, because it has the potential to protect you during life or when you’re incapacitated. It lets you discuss your wishes and make sure that they’ll always be carried out when possible.
What Is An Estate Bond?
An estate bond is a type of fiduciary bond that is often helpful, and sometimes even required during the probate process. Essentially, an estate bond, like all fiduciary bonds, protects the interests of the estate and its beneficiaries in accordance with state law. Colonial Surety Company makes it quick, affordable and easy to obtain estate bonds online, anytime. After getting a quote online, you’ll fill in essential information, enter a payment method and download or print the bond. Secure an estate bond right here, anytime, from anywhere.
Getting Fully Organized
Having an estate plan, means having an intentional strategy for leaving what we have behind us, ideally in a way that sows the seeds for others. Estate planning can bring order to potentially outstanding affairs from the mundane (like a car loan) to the more complex (like a small family owned business) so as not to leave these headaches to others. Importantly, estate planning also gives us a chance to make plans for our own care, should that become necessary, as well as to identify care for children or family members with special needs. What about pets? Yes, estate plans can attend to furry friends too.
As you dig into your estate plan, don’t forget, Colonial Surety is here to help with a full range of fiduciary bonds, available instantly and digitally, anytime, from anywhere. Available bonds include: administrator, estate, executor, fiduciary, guardian, personal representative, probate and trustee.
More Tips for Estate Lawyers
Clients come to you for help with important considerations. What’s “fair” in complicated family situations? A trust for beneficiaries with special needs? With so many issues to help your clients think through, let Colonial take the pain out of the bonding process. Colonial Surety offers the easiest, most efficient way to obtain the exact court or fiduciary bonds you need, every time.
Colonial’s direct, fully digital, user-friendly system reduces the time, hassle and expense typically associated with antiquated bonding processes. In addition to providing bonds directly to the general public, Colonial offers The Partnership Account® for Attorneys. This free business service provides user-friendly client management dashboards, enabling attorneys to easily coordinate, view, complete and e-file the court and fiduciary bonds clients need.Increase your efficiency—and lower costs for clients. See for yourself right here today: The Partnership Account® for Attorneys.
Founded in 1930, Colonial Surety Company is a direct writer of surety bonds and insurance products. Colonial is rated “A Excellent” by A.M. Best Company, U.S. Treasury listed, and licensed for business everywhere in the USA.