Estate Planning Basics That Shouldn’t Be Overlooked; Article Published by LegaLees Attorney Lee Phillips

Estate planning basics include four essential elements—the will, the revocable living trust, the living will and the durable power of attorney. Just like you can’t build a house from the roof down, you can’t build a good estate plan from the roof down.

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Lee Phillips

Lee Phillips

A lack of estate planning is like trying to build a house form the roof down. Without this foundation in place, folks lose money in the form of probate, state estate taxes, and federal estate taxes. Threats that could have been avoided.

Siesta Key, FL (PRWEB) April 26, 2013

LegaLees announces a new article by Attorney Lee Phillips entitled,“Estate planning basics —the will, the revocable living trust, the living will and the durable power of attorney,” to help people understand the basics of a good estate plan and its many benefits. Unfortunately, many Americans have spent all their time and energy building an estate and have not taken the time for estate planning, putting the whole estate at risk. The article reviews the essential elements of an estate plan.

Lee Phillips observes, “Because of a lack of advanced planning Americans could lose money in the form of probate, state estate taxes, and federal estate taxes. These are costs that could be avoided with a good estate plan. Lack of planning could also cost folks in such ways as paying more taxes than you need or in the form of an unexpected lawsuit. Advanced planning and asset protection go hand in hand.”

Mr. Phillips also noted, “To be successful, estate planning basics must be structured using an understanding of the legal strategies associated with wealth accumulation. Unfortunately, many people try to put a will in place but they don’t have a complete picture of how the estate planning basics are used. Others are “taken to the cleaners” by less-than-competent or opportunistic planners and lawyers.”

LegaLees has developed the self-implementation course Accumulation and Preservation of Wealth that contains everything folks need to take care of their advanced planning and put an effective estate plan in place. It is full of practical legal tools and line-by-line instructions on how to use them so that people can get their estate plan in place. It allows people to do their own work, or better direct their professionals to get the desired results.

Mr. Phillips serves as a counselor to the Supreme Court of the United States. He is the author of 11 books, including his latest book Protecting Your Financial Future. He has written hundreds of articles for professional people to assist them in finding various strategies to use the law to protect their property, save taxes and make more money. He has given addresses at thousands of business seminars. He enjoys helping people apply the law, not only to provide asset protection and estate planning, but to use it to structure businesses and save taxes, helping individuals achieve success.

LegaLees was founded in 1982 by Lee R. Phillips. It is a legal self-help publishing company. It produces products designed to help people understand the law. Based on his own personal experiences, Mr. Phillips realized that people needed to be able to understand how the law works so they can direct their own legal professionals. He also saw that people who want to do their own legal work need to be shown how, not just handed a fill-in-the blank form. LegaLees has designed many products to help individuals structure their personal and business affairs. All of the products help the clients protect assets and prevent legal disasters that can strike at any time.


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