“The bottom line in life is uncertain and every family needs to put a proper asset preservation and estate planning foundation, including a will, in place.”
Siesta Key, FL (PRWEB) October 15, 2013
In his “Everyone Needs a Will” article, Attorney Phillips shows the functions of a will. He points out that a will is important because it names the guardians for the minor children. It is so much better for the parents to pick the people who can best serve as a guardian than for a judge to do it. The judge doesn’t know the children or the people who would be the guardians. He cannot take into account personality conflicts or nurturing traits. Lee then describes other functions of a will.
One of the fatal mistakes folks make is to ignore their estate planning. Most people think that they don’t need a will yet. As a result, less than half of Americans have a will in place when they die. Having a will in place can make a big difference in the final outcome of an estate. Attorney Lee Phillips claims that everyone needs a will. He then adds that he is a proponent of trusts because they avoid probate. He further explains that even with a trust, a will is necessary.
Mr. Phillips also explains some the different types of wills. He discusses regular wills and “pour over wills.” How these wills work and when to use them. He observes, “The bottom line in life is uncertain and every family needs to put a proper asset preservation and estate planning foundation, including a will, in place. It does not matter whether they are young and have few assets or whether they are in good health, with no prospect of dying. A proper estate plan let’s people move forward with confidence regardless of what is happening around them. The family can save on taxes and not be as fearful of eventualities that can change their circumstances. This will give them more confidence and security. As an added benefit, when people have an aura of confidence, they will have more opportunities for success in life.”
Mr. Phillips is an attorney who serves as a counselor to the Supreme Court of the United States. He enjoys helping other people apply the law, not only to provide asset protection, but to use the law to structure businesses and save taxes. He is the author of 11 books, including his latest book Protecting Your Financial Future. He has written hundreds of articles for professional publications.
LegaLees is a legal self-help publishing company that was founded in 1982. It produces products designed to help people understand the law and better structure their personal and business affairs. Their mission is to help people protect assets and prevent legal disasters that can strike at any time.