Santa Clarita Estate Planning, Living Trusts, and Probate Attorney Robert Mansour

What Is Your Game Plan?

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Imagine if you were on a sports team that didn't have a coach, never practiced, never discussed anything at all - entirely without a game plan! How comfortable would you feel taking the field against your well-prepared opponent? In many ways, your family is your team. Life is the game. Have you taken the time to prepare your game plan?

Did you ever wonder how wealthy people manage to preserve their wealth and pass it from generation to generation? They do so by planning ahead. They have a game plan. They use the legal tools that are available to everyone - regardless of socioeconomic status! Having no plan affects everyone including the very wealthy.

For example, Elvis Presley's estate was valued at over $10 million when he died, but his heirs got less than $1 million due to lack of planning. Groucho Marx didn't plan for incapacity, so his heirs fought over his health care and management of his assets once a court declared him incompetent.

You don't need to be super wealthy to create a game plan. Even if you don't own enough to owe estate taxes (yes, the government may add insult to injury by taxing you when you die), probate and other fees can take a huge bite. In many ways, the less you have, the more you have to lose. Estate planning simply ensures you and your family have a game plan when it comes to asset management, transfer of money and property, issues regarding children, incapacity, illness and more.

When should you start planning? Today. Many people postpone estate planning because most of us tend to wait until the last minute for most things. That works much of the time. However, when it comes to estate planning, no one really knows when the last minute is! You never really know when it's going to be "Game Time!"

Creating a plan for your spouse, children and other loved ones is not only preferred, but it is the right thing to do. The estate planning process can be quite enlightening and empowering. Take that first step today by making an appointment for a free consultation. Once you've got your game plan, you can take the field with confidence!

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