The law firm of Goodrich & Reely, PLLC, serves clients throughout Montana.

How do I plan my estate in Montana?

On Behalf of | Jan 11, 2023 | Estate Planning And Administration

No matter how many assets you have and no matter how valuable those assets are, sadly, you will not be able to take them with you when you pass on from this world. Most likely, you have people in your life whom you cherish and to whom you wish to pass down your legacy. The truth is that although any thoughts or discussions about what will happen when you die may be painful, they are necessary.

It is emotionally difficult to embrace estate planning because such a topic is accompanied by many different emotions about death, the ownership of property, making business arrangements and important relationships between your loved ones and you. It is never an easy time to choose to think about all of that, let alone to discuss it with people whom you hold dear.

The myth about estate planning

Many people believe that estate planning is only for you if you are old and/or rich and nobody else needs to bother with it. Well, that is a myth. Estate planning is essential for everyone with any assets and is especially important if you have children to whom you wish to pass down those assets. There are so many provisions to be made regarding your estate, which is due, in part, to the fact that family structures nowadays are more complex than they ever were. Getting your affairs in order early on means that you will probably not have to deal with them again.

Many people understand how important proper estate planning is and it is important to understand that a comprehensive estate plan consists of more than just a will and/or a trust. Other important documents should be a part of the estate plan as well. One thing that is certain is that if a person dies without an estate plan, a lot more time, effort and money will be needed to set things right.

What happens to my estate if I die tomorrow?

If you should unexpectedly pass away tomorrow, you should consider the following today:

  • What will happen to my property?
  • Who would raise my children?
  • Would my spouse and children have enough to live a comfortable life?
  • Would my business continue?
  • Would the executor of my estate have my best interests in mind?
  • Would my estate be responsible for minimum taxes?

These are all important questions and a proper estate plan will take care of all of that so that you have some peace of mind and can enjoy the time that you have left (which will hopefully be a long time).

Solid legal advice from a Montana estate planning attorney

If you are at the beginning of the estate planning process, a Montana estate planning attorney can help you to navigate the process successfully and can also help you to protect your rights and the rights of your loved ones at the same time. Your attorney can give you the benefit of their experience and can stay by your side at every step in the process until everything is set according to your wishes.