Estate planning is not just for affluent individuals. While good estate planning can lead to desirable financial outcomes under the right circumstances, estate planning in its most basic form involves implementing the legal steps and directives that are necessary to ensure that your health and your assets are managed properly in the event of incapacity and death.
So why should you consider a more comprehensive plan than just leaving an out-of-state vacation home in your will?
Establishing an estate plan is extremely important. As life changes, it is necessary to update your plan to fit new circumstances.