Minnesota Estate Planning That Will Help You Get Your Affairs in Order

Timothy J. Scott's Blog

Posts tagged injury
One of the Greatest Gifts to Your Family Is to Plan for Incapacity

When it comes to estate planning, most people automatically think about taking legal steps to ensure the right people inherit their stuff when they die. Although that thought is not wrong, it also leaves out a very important piece of planning for life, and perhaps the most critical part of planning.

Incapacity can be a temporary event from which you eventually recover, or it can be the start of a long and costly event that ultimately ends in your death. Indeed, incapacity can drag out over many years, leaving you and your family in agonizing limbo. This uncertainty is what makes incapacity planning so incredibly important.

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The Real Cost to Your Family of Not Planning for Incapacity

When it comes to estate planning, most people automatically think about taking legal steps to ensure the right people inherit their stuff when they die. And these people aren’t wrong.

Putting strategies in place to protect and pass on your wealth and other assets is a fundamental part of the planning equation. However, providing for the proper distribution of your assets upon your death is just one part of the process.

And it’s not even the most critical part.

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